MRPL posts Rs 272cr loss amid planned shutdowns

Mangalore Refinery & Petrochemicals posted a Rs 272 crore loss in Q1 FY26 despite revenue of Rs 20,983 crores. The loss stemmed from planned plant shutdowns and inventory losses as crude prices dropped 20%.

Gross refining margin fell to $3.88 per barrel from $4.7 the previous year. EBITDA was Rs 218 crores.

MRPL expects Q2 throughput to exceed 4.3 MMT with high single-digit gross refining margins, supported by stronger middle distillate cracks and reduced internal fuel losses.