MRPL Share Price Jumps 9% As Company Reports Q1 FY27 Results; Revenue Nearly Doubles

On Thursday, Indian equity benchmarks traded higher, with the benchmark Nifty 50 gaining 76.20 points or 0.32 per cent to 24,154.70. Meanwhile, Mangalore Refinery and Petrochemicals Limited (MRPL) share price surged 9.30 per cent or Rs 14.64 to Rs 172.11 after the company announced its financial results for the quarter ended June 30, 2026.

MRPL Q1FY27 Financial Performance

MRPL reported consolidated revenue from operations of Rs 41,608.96 crore, registering a 98.2 per cent YoY growth from Rs 20,988.53 crore in Q1 FY26. Total income also increased 98.2 per cent YoY to Rs 41,679.85 crore, compared with Rs 21,026.69 crore in the corresponding quarter last year.

Operationally, the company processed 4.43 million metric tonnes (MMT) of crude oil and other feedstock during the quarter, compared with 3.52 MMT in the year-ago period, reflecting higher refinery throughput and improved operating performance.

MRPL reported a profit before tax of Rs 1,245.67 crore, compared with a loss before tax of Rs 401.59 crore in Q1 FY26, marking a strong turnaround in profitability.

Consolidated net profit stood at Rs 945.68 crore, reversing a net loss of Rs 270.66 crore reported in the corresponding quarter last year. Earnings per share improved to Rs 5.40, compared with a loss per share of Rs 1.54 in Q1 FY26.

The company's earnings were also supported by an exceptional income of Rs 471.76 crore, recognised following the revision of prices of certain petroleum products supplied during an earlier period.

Strategic Projects Gain Momentum

During the quarter, MRPL received Petroleum and Natural Gas Regulatory Board (PNGRB) authorisation for the Aviation Turbine Fuel (ATF) pipeline connecting Devangonthi Terminal to Kempegowda International Airport, Bengaluru.

The company also commenced product loading operations at the Aegis Terminal in Mangaluru, Hindupur depot in Andhra Pradesh, and Ennore terminal in Tamil Nadu. In addition, it executed lease agreements for storage tank facilities at JNPA, Kakinada and Krishnapatnam, strengthening its downstream logistics infrastructure.
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Focus on Sustainability

MRPL secured ISCC CORSIA certification for the co-processing of Used Cooking Oil (UCO) to manufacture Sustainable Aviation Fuel (SAF), marking a key milestone in its clean energy initiatives and supporting the aviation sector's transition towards lower-carbon fuels.

The company was also recognised by the Ministry of Petroleum and Natural Gas (MoPNG) with the Second Prize in the Swachhta Pakhwada Awards 2023 and a Consolation Prize in the 2024 edition for its commitment to cleanliness and environmental sustainability.

About Mangalore Refinery and Petrochemicals

Mangalore Refinery and Petrochemicals Limited (MRPL) is a Schedule 'A' Mini Ratna Category-I Central Public Sector Enterprise and a subsidiary of Oil and Natural Gas Corporation Limited (ONGC). The company operates a state-of-the-art refinery in Mangaluru, Karnataka, and is engaged in crude oil refining, petroleum products marketing and petrochemicals, serving both domestic and export markets.

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Disclaimer: The article is for informational purposes only and not investment advice.