Mangaluru: State-owned Mangalore Refinery and Petrochemicals Limited (MRPL) on Wednesday reported a strong turnaround in its financial performance for the third quarter and the first nine months of FY 2025-26. The improved results were driven by higher revenues, better operational margins and a significant reduction in borrowings, reflecting enhanced financial discipline and operational efficiency.
The Board of Directors of MRPL, a subsidiary of Oil and Natural Gas Corporation (ONGC) and a Schedule ‘A’ Mini Ratna Category-I company, approved the standalone and consolidated financial results at its 272nd board meeting held on January 14, 2026.
Robust Growth in Q3 Financial Performance
For the quarter ended December 31, 2025, MRPL’s revenue from operations increased sharply to Rs 29,720 crore, compared to Rs 25,601 crore in the corresponding period of the previous year.
Profitability saw a significant jump during the quarter, with profit before tax rising nearly five-fold to Rs 2,214 crore. Profit after tax stood at Rs 1,445 crore, a substantial increase from Rs 304 crore recorded in Q3 of FY 2024-25. The company’s EBITDA for the quarter came in at Rs 2,824 crore, highlighting improved operational efficiency and margin expansion.
Return to Profitability in Nine-Month Period
During the first nine months of FY 2025-26, MRPL recorded revenue of Rs 76,661 crore. The company successfully swung back to profitability, posting a profit before tax of Rs 2,786 crore and a profit after tax of Rs 1,812 crore, compared to losses reported in the same period of the previous financial year.
MRPL also made significant progress in strengthening its balance sheet. Total borrowings were reduced substantially from Rs 12,867 crore to Rs 9,290 crore, while the debt-equity ratio improved to 0.63 as of December 31, 2025, underscoring improved financial stability.
Operational Milestones and Crude Processing
On the operational front, MRPL processed 4.70 million metric tonnes (MMT) of crude and other feedstock during the third quarter, and 12.65 MMT during the nine-month period. The company achieved key milestones by commencing storage of crude oil at the ISPRL cavern facility in Mangaluru and processing Sarir Mesla crude from Libya for the first time, further diversifying its crude basket.
National Recognition and Awards
MRPL also received several national-level recognitions during the period. These included Export Excellence Awards from the Federation of Indian Export Organisations (FIEO), an innovation award in refining technology, recognition for digital transformation in procurement, and an award for excellence in environmental improvement, reflecting the company’s focus on innovation, sustainability and operational excellence.
About Mangalore Refinery and Petrochemicals Limited (MRPL)
Mangalore Refinery and Petrochemicals Limited (MRPL) is a Schedule ‘A’ Mini Ratna Category-I public sector enterprise and a subsidiary of Oil and Natural Gas Corporation (ONGC). Based in Mangaluru, Karnataka, MRPL operates a state-of-the-art refinery and plays a key role in India’s energy security through efficient refining operations, export performance and a strong emphasis on innovation, sustainability and financial discipline.
