MRPL Returns to Profit, Reports ₹1,445 Crore PAT in Q3 FY26

Mangaluru: Mangalore Refinery and Petrochemicals Limited (MRPL) has reported a robust financial recovery in the third quarter of FY 2025-26, posting a sharp rise in profits and significantly reducing its debt, reflecting improved refinery performance and tighter financial discipline.

The ONGC subsidiary’s Board approved the results at its meeting on January 14, 2026. For the quarter ended December 31, 2025, MRPL recorded revenue of ₹29,720 crore, marking a substantial increase over ₹25,601 crore in the same quarter last year. Profit before tax rose to ₹2,214 crore, while profit after tax stood at ₹1,445 crore, nearly five times higher than the year-ago figure.

For the first nine months of the financial year, MRPL posted ₹76,661 crore in revenue and reported a profit after tax of ₹1,812 crore, reversing losses reported in the corresponding period of FY25. Profit before tax for the nine months stood at ₹2,786 crore, underlining the company’s turnaround.

A key highlight was the significant reduction in borrowings. MRPL’s total debt declined from ₹12,867 crore to ₹9,290 crore over the nine-month period, improving its debt-equity ratio to 0.63 by the end of December 2025. The company said the improvement reflects better cash flows and disciplined capital management.

Operational throughput stood at 4.70 MMT in the third quarter and 12.65 MMT during the nine months. The refinery also expanded its crude sourcing basket by processing Libyan Sarir Mesla crude for the first time. In addition, MRPL began utilising cavern storage facilities leased from ISPRL at Mangaluru, enhancing logistical flexibility.

Beyond financial performance, MRPL earned multiple accolades, including Export Excellence Awards from the Federation of Indian Export Organisations, recognition for digital procurement initiatives, a fourth consecutive innovation award in refining technology, and a national award for environmental improvement and sustainability.