Mangalore Refinery and Petrochemicals Ltd (MRPL) reported a sharp jump in second-quarter profit, with standalone net profit nearly tripling to Rs 1,881 crore for the July-September quarter, up about 194 per cent from Rs 639 crore a year ago.
Revenue from operations rose 37.1 per cent to Rs 35,590 crore from Rs 25,953 crore in the year-ago quarter, while profit before tax climbed to Rs 2,519 crore from Rs 975 crore. EBITDA more than doubled to Rs 3,210 crore from Rs 1,565 crore.
For the first half of FY27, the ONGC subsidiary posted standalone net profit of Rs 2,796 crore against Rs 367 crore in the year-ago period, with half-year revenue at Rs 77,199 crore versus Rs 46,942 crore.
Dividend and rating firsts
The board, which approved the results on October 14, declared a first interim dividend of Rs 3 per equity share of Rs 10 face value - 30 per cent - for FY27. The record date for the dividend is October 21, 2026.
During the quarter, MRPL also secured its first-ever international credit rating, with Fitch Ratings assigning a 'BBB-' rating with a stable outlook - at par with India's sovereign rating.
New JV, terminal certification
The company incorporated ONGC Petrochemicals Marketing Limited (OPML) on October 7, 2026, as a joint venture with ONGC and ONGC Petro-additions Ltd - MRPL holds a 25 per cent stake, with ONGC holding 50 per cent and OPaL 25 per cent.
Its marketing terminal at Devangonthi, Bengaluru, received ISCC CORSIA certification for the receipt, storage and blending of sustainable aviation fuel.
Fire impact and lower throughput
Total refinery throughput was 4.18 million tonnes against 4.43 million tonnes a year ago, and exports stood at Rs 6,327 crore versus Rs 10,404 crore. A fire broke out on September 30 at the coker hydrotreater unit in phase III of the refinery; the company provisionally estimated the financial impact at Rs 118.76 crore, with a replacement value of about Rs 225 crore.
(All figures are standalone results as reported by the company.)
Sources: Economic Times: Stocks in news | CNBC TV18: MRPL Q2 results - net profit nearly triples to Rs 1,881 crore | The Hindu BusinessLine: MRPL Q2 registers PAT at Rs 1,881, up by 194%
Revenue from operations rose 37.1 per cent to Rs 35,590 crore from Rs 25,953 crore in the year-ago quarter, while profit before tax climbed to Rs 2,519 crore from Rs 975 crore. EBITDA more than doubled to Rs 3,210 crore from Rs 1,565 crore.
For the first half of FY27, the ONGC subsidiary posted standalone net profit of Rs 2,796 crore against Rs 367 crore in the year-ago period, with half-year revenue at Rs 77,199 crore versus Rs 46,942 crore.
Dividend and rating firsts
The board, which approved the results on October 14, declared a first interim dividend of Rs 3 per equity share of Rs 10 face value - 30 per cent - for FY27. The record date for the dividend is October 21, 2026.
During the quarter, MRPL also secured its first-ever international credit rating, with Fitch Ratings assigning a 'BBB-' rating with a stable outlook - at par with India's sovereign rating.
New JV, terminal certification
The company incorporated ONGC Petrochemicals Marketing Limited (OPML) on October 7, 2026, as a joint venture with ONGC and ONGC Petro-additions Ltd - MRPL holds a 25 per cent stake, with ONGC holding 50 per cent and OPaL 25 per cent.
Its marketing terminal at Devangonthi, Bengaluru, received ISCC CORSIA certification for the receipt, storage and blending of sustainable aviation fuel.
Fire impact and lower throughput
Total refinery throughput was 4.18 million tonnes against 4.43 million tonnes a year ago, and exports stood at Rs 6,327 crore versus Rs 10,404 crore. A fire broke out on September 30 at the coker hydrotreater unit in phase III of the refinery; the company provisionally estimated the financial impact at Rs 118.76 crore, with a replacement value of about Rs 225 crore.
(All figures are standalone results as reported by the company.)
Sources: Economic Times: Stocks in news | CNBC TV18: MRPL Q2 results - net profit nearly triples to Rs 1,881 crore | The Hindu BusinessLine: MRPL Q2 registers PAT at Rs 1,881, up by 194%
