Mangalore Refinery and Petrochemicals Limited (MRPL), an ONGC subsidiary, reported a strong turnaround in Q1 FY2026-27, posting a net profit of Rs 915 crore against a loss a year ago. Revenue from operations nearly doubled to Rs 41,609 crore, driven by higher throughput and improved operational performance.
Key Highlights
- MRPL reports Q1 FY27 net profit of Rs 915 crore against a Rs 272 crore loss in Q1 FY26.
- Revenue from operations nearly doubles to Rs 41,609 crore from Rs 20,989 crore.
- Crude throughput increases to 4.43 MMT during the first quarter.
- MRPL advances infrastructure and sustainability initiatives, including SAF certification and new fuel terminals.
New Delhi, July 16: Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of ONGC and a Schedule ‘A’ Mini Ratna Category-I PSU, has reported a sharp turnaround in financial performance for the first quarter of FY2026-27. The company’s Board of Directors, at its 276th meeting held on July 15, 2026, approved the standalone and consolidated financial results for the quarter ended June 30, 2026.
The company posted revenue from operations of Rs 41,609 crore, almost doubling from Rs 20,989 crore recorded in the corresponding quarter of the previous financial year. Profit Before Tax (PBT) stood at Rs 1,215 crore, compared to a loss of Rs 403 crore a year earlier, while Profit After Tax (PAT) surged to Rs 915 crore, marking a significant recovery from the Rs 272 crore loss reported in Q1 FY2025-26.
Operationally, MRPL processed 4.43 million metric tonnes (MMT) of crude and other feedstock during the quarter, compared with 3.52 MMT in the same period last year. The improved throughput supported higher refining activity and contributed to the company’s strong financial performance. On a consolidated basis, PAT attributable to the company’s shareholders rose to Rs 946 crore, compared with a loss of Rs 271 crore in the year-ago quarter.
MRPL also achieved several strategic milestones during the quarter. The company received PNGRB authorisation for the Aviation Turbine Fuel (ATF) pipeline connecting Devangonthi Terminal to Kempegowda International Airport, Bengaluru. It also commenced product loading at Aegis Terminal in Mangaluru, Hindupur depot in Andhra Pradesh, and Ennore terminal in Tamil Nadu, while executing lease agreements for storage tank facilities at JNPA, Kakinada and Krishnapatnam.
In a major sustainability initiative, MRPL secured ISCC CORSIA certification for the co-processing of Used Cooking Oil (UCO) to produce Sustainable Aviation Fuel (SAF). The certification strengthens the company’s commitment to low-carbon aviation fuel and supports India’s transition towards cleaner and more sustainable energy solutions.
Adding to its achievements, MRPL received the Second Prize in the Swachhta Pakhwada Awards 2023 and a Consolation Prize in the 2024 edition, presented by the Ministry of Petroleum and Natural Gas (MoPNG), recognising the company’s commitment to cleanliness and environmental excellence.
MRPL’s robust first-quarter performance highlights its operational strength, improved profitability and continued investments in infrastructure and sustainability, reinforcing its position as one of India’s leading public sector refining and petrochemical companies.
