Mangalore Refinery and Petrochemicals Limited has announced a board meeting where it approved the audited financial results for the quarter and year.

Consolidated profit after tax for the year surged to ₹1,924.58 Cr from ₹58.21 Cr, with total income at ₹1,01,347.16 Cr.

The Board decided against a final dividend for the financial year, having already paid an interim dividend of ₹4.00 per share.

The company intends to opt for a lower tax rate from the next fiscal year, impacting deferred tax assets and liabilities, and confirmed its security cover for listed debt.