ONGC subsidiary MRPL share price surges 13% on stellar Q1 results; swings to profit from loss

MRPL share price: Shares of Mangalore Refinery and Petrochemicals Ltd. (MRPL) rallied more than 13% to an intraday high of ₹178.40 on the BSE on Thursday, July 16, after the ONGC subsidiary reported a sharp improvement in its financial performance for the April-June quarter (Q1 FY27).

The PSU stock has been on a strong run in recent sessions, rising 13% over the past week and 5% over the last one month. On a year-to-date basis, the shares have gained 13%.

MRPL had touched its 52-week high of ₹212.31 on March 6, 2026, while its 52-week low stood at ₹120.40, recorded on August 7, 2025.

MRPL Q1 results

MRPL reported a multi-fold sequential jump in consolidated net profit to ₹945.68 crore during the first quarter of FY27, compared with ₹116.99 crore in the January-March quarter.

In the corresponding quarter of the previous financial year (Q1 FY26), the company had reported a consolidated net loss of ₹270.66 crore.

According to the company's regulatory filing dated July 15, the June quarter included a one-time gain of ₹471.76 crore, arising from the revision of certain petroleum product prices on supplies made during the previous period.

Revenue from operations, including exports, climbed 46.03% quarter-on-quarter to ₹41,608.96 crore, compared with ₹28,493.04 crore in the preceding quarter.

On a year-on-year basis, revenue surged 98.24% from ₹20,988.53 crore reported in Q1 FY26.

Exports, however, declined 30.9% sequentially to ₹5,012 crore from ₹7,252 crore in the March quarter. On a year-on-year basis, exports increased 5.1% from ₹4,767 crore recorded in the corresponding quarter last year.

At the operating level, the Miniratna CPSE reported EBITDA of ₹1,860 crore during the reporting quarter.

Compared with the year-ago period, EBITDA increased sharply to ₹1,317.6 crore from ₹179.5 crore, while EBITDA margin expanded to 3.44% from 1.03%.

On a sequential basis, EBITDA increased marginally from ₹1,842 crore reported in Q4 FY26. Compared with the June quarter of FY26, EBITDA surged nearly 8 times from ₹218 crore.

The company's throughput, including crude and other feedstock, increased 1.8% quarter-on-quarter and 25.85% year-on-year to 4.43 million metric tonnes (MMT) during the quarter ended June 30, 2026. Throughput had stood at 4.35 MMT in the previous quarter and 3.52 MMT in the corresponding period last year.

Operational developments during the quarter

Apart from its financial performance, MRPL also reported several operational milestones during the June quarter.

The company received authorisation from the Petroleum and Natural Gas Regulatory Board (PNGRB) for its aviation turbine fuel (ATF) pipeline connecting the Devangonthi Terminal with Kempegowda International Airport in Bengaluru.

MRPL also commenced product loading operations at the Aegis Terminal in Mangaluru, the Hindupur depot in Andhra Pradesh, and the Ennore terminal in Tamil Nadu.

During the quarter, the company executed lease agreements for storage tankages at JNPA, Kakinada, and Krishnapatnam.

MRPL further said it received ISCC CORSIA certification for co-processing used cooking oil under its Sustainable Aviation Fuel (SAF) programme during the reporting quarter.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.