Mangalore Refinery & Petrochemicals (MRPL) fell 6.56% to Rs 139.55 after the company reported a standalone net loss of Rs 271.97 crore in Q1 FY26, compared to a net profit of Rs 65.57 crore in Q1 FY25.
Revenue from operations (excluding excise duty) declined 25.3% year-on-year to Rs 17,356.23 crore for the quarter ended 30 June 2025.The company reported a pre-tax loss of Rs 402.90 crore during the quarter.
MRPLs total throughput (crude + others) for Q1 FY26 was 3.52 million metric tonnes (MMT), down from 4.35 MMT in Q1 FY25.
Gross refining margin (GRM) fell to $3.88 per barrel in Q1 FY26, compared with $4.70 per barrel in the same quarter last year.
Earnings before interest, tax, depreciation, and amortization (EBITDA) stood at Rs 218 crore in Q1 FY26, a sharp decline of 66.46% from Rs 650 crore posted in Q1 FY25.
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The company also noted that it processed 1,512 TMT of crude oil in April 2025 the highest ever for any April surpassing the previous record of 1,481 TMT set in April 2022. Additionally, MRPL completed the shutdown of major units in the Phase-2 complex during the quarter.
Mangalore Refinery and Petrochemicals, a subsidiary of ONGC, is Category 1 Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. The refinery has flexibility to process crudes of various API, delivering a variety of quality products. As on 30 June 2025, ONGC held 71.63% stake while Hindustan Petroleum Corporation (HPCL) held 16.96% stake in the company.
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