MRPL to offer Rs 80 lakh per acre for acquisition of land
The decision was made during a meeting chaired by Dakshina Kannada MP Brijesh Chowta at the DC's office on Saturday.
MRPL submitted a proposal to the district administration to offer compensation of Rs 80 lakh per acre, along with Rs 20 lakh in cash and a plot of land for each family instead of employment. The MP said this longstanding issue must be resolved satisfactorily for everyone. The severity of the displaced people's problem is understood, and a good package must be provided, he said.
There are 408 door numbers on 27 acres, and according to the survey, land acquisition and other expenses might amount to Rs 93.9 crore, as reported by the Karnataka Polytechnic (KPT) that conducted the survey.
Deputy commissioner Darshan HV said that a final decision on the package submitted by MRPL will be made soon. The 27 acres to be acquired fall within the jurisdiction of Jokatte, Bala gram panchayats, and Bajpe Town panchayat, and the DC instructed that no new door numbers should be issued in these areas.
by Taboola
by Taboola
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Moodbidri MLA Umanath Kotian, MRPL MD Mundkur Shyamprasad Kamath, officials of the Karnataka Industrial Area Development Board (KIADB), and leaders of the displaced, including Muneer Katipalla, among others, were present.
MRPL records decline in profits
The MRPL reported a net loss of Rs 272 crore for the first quarter of the 2025–26 financial year, a sharp decline from a net profit of Rs 66 crore during the same period last year.
The board of directors approved the standalone and consolidated financial results for Q1 on Friday.
Revenue from operations fell to Rs 20,988 crore, down from Rs 27,289 crore in Q1 of 2024–25. The company's gross refining margin (GRM) also declined to $3.8 per barrel from $4.7 per barrel in the corresponding quarter last year. Total throughput at the refinery dropped to 3.5 million tonnes (MT), compared to 4.3 MT in the same period last year. However, MRPL recorded its highest-ever crude processing in a single month, with 1,512 thousand metric tonnes (TMT) processed in April 2025—surpassing the previous record of 1,481 TMT in April 2022.
A company release said the major units in the phase-2 complex were shut down for maintenance during the quarter.
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