Mangalore: Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of Oil and Natural Gas Corporation (ONGC), reported a consolidated net loss of ₹272 crore in the first quarter of FY 2025-26, according to unaudited financial results approved by its Board of Directors on Friday.
The downturn was attributed to a drop in throughput and a scheduled shutdown of key refining units in its Phase-2 complex during the quarter.
Throughput and Operational Impact
Despite achieving a record for highest crude processing volume in any April, at 1,512 TMT, MRPL’s overall quarterly throughput fell to 3.52 million metric tonnes, down from 4.35 million metric tonnes in the same quarter last fiscal. The decline was largely due to planned maintenance activities and operational curtailments.
Read Also: MRPL Appoints Cost Auditor for FY26; Ircon Wins ₹642 Crore Metro Contract from MMRDA
Financial Highlights: Q1 FY26 vs Q1 FY25
| Metric | Q1 FY26 | Q1 FY25 |
|---|---|---|
| Revenue from Operations | ₹20,988 crore | ₹27,289 crore |
| Gross Refining Margin (GRM) | $3.88 per barrel | $4.70 per barrel |
| EBITDA | ₹218 crore | – |
| Profit Before Tax (PBT) | -₹403 crore | – |
| Profit After Tax (PAT) | -₹272 crore | Profit |
Management Outlook
The results were reviewed and approved by MRPL’s Board during its meeting on July 18, 2025. While the company has demonstrated strong operational capability – especially in April – MRPL will now be focusing on recovery in margins, maximizing asset utilization post-shutdown, and navigating volatile global crude dynamics.
The company has also maintained its commitment to sustainability and refining modernization in alignment with ONGC’s long-term energy strategy.
About MRPL
Mangalore Refinery and Petrochemicals Limited (MRPL) is a subsidiary of Oil and Natural Gas Corporation (ONGC) and operates a state-of-the-art refinery in Mangaluru, Karnataka, with a capacity of 15 million metric tonnes per annum. MRPL is a key player in the refining and petrochemicals sector and is actively expanding its footprint into biofuels and renewable energy domains.
Read Also: MRPL Strengthens Leadership Team with Appointment of 3 Executive Directors – Know More About Them
