Shares of Mangalore Refinery and Petrochemicals Ltd (MRPL) climbed 8.84 per cent to a high of Rs 154.55 in Thursday’s trade after the company turned profitable in the July-September quarter (Q2 FY26).
The Mangaluru-based oil refiner posted a profit after tax (PAT) of Rs 638.67 crore in the second quarter of FY26, compared to a loss of Rs 682.32 crore in the same period last year. Revenue from operations, however, declined to Rs 25,953 crore from Rs 28,786 crore in the year-ago quarter.
The company’s total throughput stood at 4.43 million tonnes in Q2 FY26, marginally lower than 4.58 million tonnes in Q2 FY25.
For the first half (H1) of FY26, MRPL reported a PAT of Rs 366.70 crore against a loss of Rs 616.75 crore in the corresponding period of FY25. Revenue from operations for H1 FY26 fell to Rs 46,941 crore from Rs 56,075 crore in the same period last year.
In operational highlights, MRPL processed a new crude variety, ‘Hout’, from the Kuwait Neutral Zone for the first time in September 2025.
The company also reported record performance at its Devangonthi terminal in Bengaluru, which achieved its highest-ever monthly dispatch of 65.40 thousand kilolitres (TKL) in September 2025, surpassing the previous peak of 57.90 TKL recorded in May 2025.
MRPL is a Public Sector Undertaking (PSU), classified as a Category 1 Miniratna Central Public Sector Enterprise, operating under the Ministry of Petroleum & Natural Gas. As of September 2025, the government held an 88.58 per cent stake in the refiner.