Mangaluru: Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of ONGC and a Schedule “A” Mini Ratna Category I company, announced its financial results for the fourth quarter and full financial year 2024–25 during its 269th Board meeting held on Saturday.
In Q4 FY25, MRPL reported a 25% decline in revenue from operations, which stood at ₹27,601 crore, compared to ₹29,190 crore in the same quarter last year. Profit Before Tax (PBT) dropped significantly to ₹584 crore from ₹1,766 crore, while Profit After Tax (PAT) fell to ₹363 crore from ₹1,137 crore. The company’s Gross Refining Margin (GRM) also slipped to USD 6.23 per barrel, down from USD 11.35 per barrel in Q4 FY24.
For the full financial year 2024–25, MRPL reported revenue from operations of ₹1,09,277 crore, a marginal increase from ₹1,05,223 crore in the previous fiscal. However, profitability took a sharp hit. PBT dropped to ₹113 crore from ₹5,521 crore, and PAT plummeted to ₹51 crore from ₹3,596 crore. The annual GRM also halved to USD 4.45 per barrel from USD 10.36 per barrel last year.
The fall in earnings was primarily attributed to the decline in global crude oil prices and lower refining margins, which significantly impacted the company’s profitability despite stable operational revenues.
MRPL continues to navigate a volatile global energy environment and is expected to focus on operational efficiencies and strategic realignment to counter the challenges ahead.
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
