Mangaluru, January 14, 2026: Mangalore Refinery and Petrochemicals Limited (MRPL) reported a sharp improvement in its standalone financial performance for the quarter ended December 31, 2025 (Q3 FY26), driven by higher throughput, improved margins, and better operational efficiency.
The ONGC subsidiary posted a standalone profit before tax of ₹2,214.28 crore in Q3 FY26, marking a 372 percent sequential jump compared to ₹974.66 crore in the September quarter. On a year-on-year basis, profit before tax surged nearly five-fold from ₹469.35 crore reported in Q3 FY25.
Strong Revenue Growth in Q3
Revenue from operations stood at ₹29,720.13 crore during the December quarter, reflecting solid growth compared to ₹25,952.94 crore in Q2 FY26 and ₹25,600.78 crore in the corresponding quarter last year.Total income for the quarter came in at ₹29,759.47 crore, supported by steady other income and robust core operations.
Quarterly Financial Snapshot (Standalone)
| Particulars | Q3 FY26 | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue from Operations (₹ crore) | 29,720.13 | 25,952.94 | 25,600.78 |
| Total Income (₹ crore) | 29,759.47 | 26,029.19 | 25,634.09 |
| Total Expenses (₹ crore) | 27,545.19 | 25,054.53 | 25,164.74 |
| Profit Before Tax (₹ crore) | 2,214.28 | 974.66 | 469.35 |
Margin Expansion Drives Profitability
The sharp rise in profitability was aided by controlled operating costs and favorable inventory movement during the quarter. Despite higher excise duty and depreciation expenses, MRPL managed to expand margins through better refinery utilization and cost discipline.Total expenses for the quarter stood at ₹27,545.19 crore, up sequentially but at a slower pace than revenue growth, leading to operating leverage benefits.
Nine-Month Performance Turns Around
For the nine months ended December 31, 2025, MRPL reported a profit before tax of ₹2,786.04 crore, marking a strong turnaround from a loss of ₹471.12 crore in the corresponding period last year.Revenue from operations during the nine-month period stood at ₹76,661.10 crore, compared with ₹81,676.10 crore in the year-ago period, indicating that margin recovery played a more significant role than topline growth.
Nine-Month Comparison (Standalone)
| Particulars | 9M FY26 | 9M FY25 |
|---|---|---|
| Revenue from Operations (₹ crore) | 76,661.10 | 81,676.10 |
| Total Expenses (₹ crore) | 74,028.68 | 82,285.15 |
| Profit Before Tax (₹ crore) | 2,786.04 | (471.12) |
Cost Structure Highlights
- Cost of materials consumed during Q3 FY26 stood at ₹20,394.34 crore
- Excise duty expense rose to ₹5,008.48 crore
- Employee benefits expense was ₹184.26 crore
- Finance costs remained largely stable at ₹218.96 crore
Share Price Reaction
Shares of Mangalore Refinery and Petrochemicals Limited witnessed a sharp rally in Wednesday session following the Q3 FY26 earnings announcement. The stock surged over 11 percent intraday to trade at around ₹161, compared with the previous close of ₹145.18. The rally reflected strong investor response to the significant sequential and year-on-year jump in profitability, with buying interest remaining firm through the session as volumes picked up.Source:
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