MRPL reports ₹272 crore loss in Q1 FY26 on lower GRM and throughput

MRPL reported a ₹272 crore loss in Q1 FY26, compared to a ₹66 crore profit in the same period last year, as revenue declined 23% to ₹20,988 crore.
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Mangalore Refinery and Petrochemicals Ltd (MRPL) recorded a loss of ₹272 crore in the first quarter of 2025-26 against a profit after tax of ₹66 crore in the corresponding period of 2024-25.

The company informed stock exchanges that its board of directors approved the standalone and consolidated financial results for Q1 of 2025-26 on Friday.

The company’s revenue from operations stood at ₹20,988 crore during the first quarter of 2025-26, compared to ₹27,289 crore in Q1 of 2024-25.

The gross refining margin (GRM) of MRPL stood at $3.88 a barrel in Q1 of 2025-26 against $4.70 a barrel in the corresponding period of the previous fiscal. GRM is the difference between the price of crude oil and end products.

The total throughput of the refinery was 3.52 million tonnes (mt) in the first quarter of 2025-26, compared to 4.35 mt in Q1 of 2024-25.

The refinery processed the highest-ever crude of 1,512 TMT (thousand metric tonnes) in April 2025. The previous highest was in April 2022 at 1,481 TMT.

The company said it completed the shutdown of major units in phase-2 complex during the first quarter of 2025-26.

The scrip of MRPL closed at ₹149.35 on BSE on Friday, up 1.22 per cent, against the previous close of ₹147.55.

Published on July 18, 2025