MRPL posts sharp profit surge in Q3 FY26, cuts debt significantly

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, driven by higher revenues, improved margins and a sharp reduction in borrowings.

PSU Watch is now on Whatsapp Channels. Click here to join

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 meeting held on January 14, 2026.

For the third quarter ended December 31, 2025, MRPL’s revenue from operations rose to Rs 29,720 crore, compared to Rs 25,601 crore in the corresponding period last year.

Profit before tax jumped nearly five-fold to Rs 2,214 crore, while profit after tax increased to Rs 1,445 crore, from Rs 304 crore in Q3 of FY25.

The company’s EBITDA for the quarter stood at Rs 2,824 crore, reflecting improved operational efficiency.

During the nine-month period, MRPL recorded revenue of Rs 76,661 crore. The company swung to profitability, posting a profit before tax of Rs 2,786 crore and profit after tax of Rs 1,812 crore, compared to losses in the same period of the previous financial year. 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.

On the operational front, MRPL processed 4.70 million metric tonnes (MMT) of crude and other feedstock in Q3 and 12.65 MMT during the nine months. The company also commenced storage of crude oil at the ISPRL cavern facility in Mangaluru and processed Sarir Mesla crude from Libya for the first time.

The release also added that MRPL also received several national recognitions, including Export Excellence Awards from FIEO, an innovation award in refining technology, recognition for digital procurement transformation, and an award for excellence in environmental improvement.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)