MRPL Q1 Results: Back in the black with ₹946 crore profit as margins improve sharply

Mangalore Refinery and Petrochemicals Ltd (MRPL) returned to profit in the June quarter, helped by a sharp improvement in operating performance as the ONGC subsidiary reported stronger revenue and margins compared with the year-ago period.The company posted a net profit of ₹945.7 crore for Q1FY27, reversing a net loss of ₹270.7 crore in the corresponding quarter last year.

Revenue from operations rose sharply to ₹38,254.2 crore, compared with ₹17,356.7 crore a year earlier.
Operating performance also improved significantly. EBITDA surged to ₹1,317.6 crore from ₹179.5 crore in the year-ago quarter, while the EBITDA margin expanded to 3.44% from 1.03%.Ahead of the earnings announcement, shares of MRPL closed marginally higher at ₹157 on the NSE.

Infrastructure expansion gathers paceDuring the quarter, MRPL continued to strengthen its downstream infrastructure and logistics network.

The company received PNGRB authorisation for its aviation turbine fuel (ATF) pipeline connecting Devangonthi Terminal to Kempegowda International Airport in Bengaluru. It also commenced product loading operations at the Aegis Terminal in Mangaluru, the Hindupur depot in Andhra Pradesh and the Ennore terminal in Tamil Nadu.

In addition, MRPL executed lease agreements for storage tank facilities at Jawaharlal Nehru Port Authority (JNPA) in Navi Mumbai, as well as at Kakinada and Krishnapatnam in Andhra Pradesh.

Sustainable aviation fuel milestone

MRPL also marked a key milestone in its clean energy roadmap after securing ISCC CORSIA certification in April for the co-processing of used cooking oil (UCO) to produce Sustainable Aviation Fuel (SAF).

The certification enables the refinery to produce internationally compliant sustainable aviation fuel, supporting both India’s energy transition goals and the global aviation industry’s decarbonisation efforts.