Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of ONGC, posted its consolidated financial results for the quarter ended June 30, 2025, showing a sharp decline in profitability amid a significant drop in revenue.
For Q1 FY26, MRPL reported a net loss of ₹270.66 crore, compared to a net profit of ₹73.22 crore in the same quarter last year. This came as the company’s total income declined by 23% year-on-year to ₹21,026.06 crore, from ₹27,334.13 crore in Q1 FY25. Revenue was also lower than the ₹27,639.17 crore recorded in the preceding quarter.
Total expenses for the quarter stood at ₹21,428.96 crore, down slightly from ₹27,233.50 crore in Q1 FY25, but still higher than revenue, resulting in a loss.
The company recorded a loss before tax of ₹401.59 crore, compared to a profit before tax of ₹118.89 crore in the year-ago period. MRPL’s bottom line was impacted by inventory losses and higher excise duties during the quarter.
Key highlights for Q1 FY26 (₹ crore):
- Total income: ₹21,026.06 (down 23% YoY from ₹27,334.13)
- Total expenses: ₹21,428.96 (vs ₹27,233.50 YoY)
- Net profit/(loss): ₹(270.66) (vs ₹73.22 YoY)
MRPL continues to face challenging market conditions, with pressure on refining margins and higher input costs contributing to the quarterly loss.
Disclaimer: All figures are based on MRPL’s unaudited consolidated financial results filed for the quarter ended June 30, 2025. Business Upturn and the author are not responsible for the accuracy of the data or any decisions based on this report.
