Latest news with #MRPL
News18
5 hours ago
- Business
- News18
MRPL posts Rs 272 cr Q1 loss amid revenue, margin slide
Agency: PTI Mangaluru (Karnataka), Jul 19 (PTI) MRPL, a subsidiary of ONGC and a Schedule 'A" Mini Ratna Category-I company, on Saturday reported a consolidated net loss of Rs 272 crore for the first quarter of FY 2025-26, compared to a profit of Rs 66 crore during the same period last year. According to a statement from Mangalore Refinery and Petrochemicals Ltd, the company's Board of Directors approved the Q1 financial results at its 270th meeting held on July 18. The results reflect a decline in revenue from operations, which stood at Rs 20,988 crore in Q1 FY26, down from Rs 27,289 crore in Q1 FY25. Gross Refining Margin (GRM), a key performance indicator for refineries, dropped to USD 3.88 per barrel from USD 4.70 per barrel year-on-year. 'The refinery processed 3.52 million metric tonnes (MMT) of crude and other feedstocks during the quarter, lower than 4.35 MMT in Q1 FY25. However, MRPL achieved a significant operational milestone by processing 1,512 TMT of crude oil in April 2025—its highest-ever for any April—surpassing the previous record of 1,481 TMT set in April 2022," the company said. MRPL also completed the scheduled shutdown of major units in its phase-2 complex during this quarter. Standalone EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) stood at Rs 218 crore, down from Rs 650 crore in the same quarter last year. Profit Before Tax was negative at Rs 403 crore, compared to a profit of Rs 101 crore in Q1 FY25. MRPL's consolidated loss after tax attributable to owners stood at Rs 271 crore, as against a profit of Rs 73 crore in the corresponding quarter of the previous year. Despite the setback, the company stated that it maintains a strategic role in India's energy sector and is expected to recover in the upcoming quarters with resumed operations and anticipated improvements in margins, it stated. PTI COR AMP SSK view comments First Published: July 19, 2025, 15:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
7 hours ago
- Business
- Time of India
MRPL Q1 results: MRPL reports Rs 272 crore loss as revenue and refining margins dip, crude throughput falls YoY
Mangalore Refinery and Petrochemicals Ltd (MRPL), a subsidiary of and a Schedule 'A' Mini Ratna Category-I company, on Saturday reported a consolidated net loss of Rs 272 crore for the first quarter of FY26, reversing from a Rs 66 crore profit in the same period last year. Tired of too many ads? go ad free now The company's board approved the Q1 results during its 270th meeting held on July 18. MRPL said the loss was driven by a decline in revenue and lower refining margins, PTI reported. Revenue from operations in the June quarter dropped to Rs 20,988 crore, from Rs 27,289 crore in Q1FY25. Gross Refining Margin (GRM) slipped to $3.88 per barrel from $4.70 per barrel year-on-year. 'Refinery throughput stood at 3.52 million metric tonnes (MMT) of crude and other feedstocks, compared to 4.35 MMT in the year-ago quarter,' the company said in a statement. Despite the overall drop, MRPL said it achieved a milestone in April 2025, processing 1,512 TMT of crude oil — its highest-ever for the month — surpassing the earlier April record of 1,481 TMT set in 2022. Standalone EBITDA fell to Rs 218 crore, from Rs 650 crore a year ago. Profit Before Tax for the quarter was negative Rs 403 crore, compared to a Rs 101 crore profit in Q1FY25. Consolidated loss after tax attributable to owners stood at Rs 271 crore, against a Rs 73 crore profit in the corresponding quarter last year. The company completed scheduled maintenance and shutdown of major units in its phase-2 complex during the quarter, impacting output. It, however, expressed confidence in recovery in the coming quarters, supported by resumption of operations and improved margins.
Mint
7 hours ago
- Business
- Mint
MRPL posts ₹272 cr Q1 loss amid revenue, margin slide
Mangaluru (Karnataka), Jul 19 (PTI) MRPL, a subsidiary of ONGC and a Schedule "A" Mini Ratna Category-I company, on Saturday reported a consolidated net loss of ₹ 272 crore for the first quarter of FY 2025-26, compared to a profit of ₹ 66 crore during the same period last year. According to a statement from Mangalore Refinery and Petrochemicals Ltd, the company's Board of Directors approved the Q1 financial results at its 270th meeting held on July 18. The results reflect a decline in revenue from operations, which stood at ₹ 20,988 crore in Q1 FY26, down from ₹ 27,289 crore in Q1 FY25. Gross Refining Margin (GRM), a key performance indicator for refineries, dropped to USD 3.88 per barrel from USD 4.70 per barrel year-on-year. "The refinery processed 3.52 million metric tonnes (MMT) of crude and other feedstocks during the quarter, lower than 4.35 MMT in Q1 FY25. However, MRPL achieved a significant operational milestone by processing 1,512 TMT of crude oil in April 2025—its highest-ever for any April—surpassing the previous record of 1,481 TMT set in April 2022," the company said. MRPL also completed the scheduled shutdown of major units in its phase-2 complex during this quarter. Standalone EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) stood at ₹ 218 crore, down from ₹ 650 crore in the same quarter last year. Profit Before Tax was negative at ₹ 403 crore, compared to a profit of ₹ 101 crore in Q1 FY25. MRPL's consolidated loss after tax attributable to owners stood at ₹ 271 crore, as against a profit of ₹ 73 crore in the corresponding quarter of the previous year.
Mint
9 hours ago
- Business
- Mint
MRPL posts ₹272 cr Q1 loss amid revenue, margin slide
Mangaluru (Karnataka), Jul 19 (PTI) MRPL, a subsidiary of ONGC and a Schedule "A" Mini Ratna Category-I company, on Saturday reported a consolidated net loss of ₹ 272 crore for the first quarter of FY 2025-26, compared to a profit of ₹ 66 crore during the same period last year. According to a statement from Mangalore Refinery and Petrochemicals Ltd, the company's Board of Directors approved the Q1 financial results at its 270th meeting held on July 18. The results reflect a decline in revenue from operations, which stood at ₹ 20,988 crore in Q1 FY26, down from ₹ 27,289 crore in Q1 FY25. Gross Refining Margin (GRM), a key performance indicator for refineries, dropped to USD 3.88 per barrel from USD 4.70 per barrel year-on-year. "The refinery processed 3.52 million metric tonnes (MMT) of crude and other feedstocks during the quarter, lower than 4.35 MMT in Q1 FY25. However, MRPL achieved a significant operational milestone by processing 1,512 TMT of crude oil in April 2025—its highest-ever for any April—surpassing the previous record of 1,481 TMT set in April 2022," the company said. MRPL also completed the scheduled shutdown of major units in its phase-2 complex during this quarter. Standalone EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) stood at ₹ 218 crore, down from ₹ 650 crore in the same quarter last year. Profit Before Tax was negative at ₹ 403 crore, compared to a profit of ₹ 101 crore in Q1 FY25. MRPL's consolidated loss after tax attributable to owners stood at ₹ 271 crore, as against a profit of ₹ 73 crore in the corresponding quarter of the previous year. Despite the setback, the company stated that it maintains a strategic role in India's energy sector and is expected to recover in the upcoming quarters with resumed operations and anticipated improvements in margins, it stated.
The Hindu
6 days ago
- The Hindu
MRPL gas leak: Six staff booked over death of two coworkers
The city police have registered a case against the Factory Manager, Chief General Manager, General Manager and three other staff members of Mangalore Refinery and Petrochemicals Limited (MRPL) by charging them with negligence which led to the death of two MRPL workers, allegedly due to the leakage of hydrogen sulfide (H 2 S)gas, while on duty in the Oil Movement Area (OMS) on Saturday morning. The six staff members against whom the case was booked were in charge of the OMS, according to police. The police said Assistant Operation Officers P. Bijil Prasad, 35, of Kerala and Deep Chandra Bhartiya, 33, of Prayagraj, died after they inhaled H2S gas when they went over a tank in the OMS area to check a minor leakage of the gas on it. In the complaint to Surathkal Police, Anita, wife of Bharatiya, said field operator P. Prasath checked the roof of FB29A tank around 5 a.m. on Saturday and reported to the OMS control room about a leak of H 2 S gas at the rooftop and a peacock lying dead over there. Around 7 a.m., the OMS control room asked Prasad, who was on morning shift, to check the roof of the same tank. Prasad went to the roof to check. When there was no response from him on the walkie-talkie for nearly 30 minutes, Bharatiya and his colleague, Balbeer, went to check. Prasad was found lying unconscious on the rooftop, and immediately Bhartiya too collapsed there itself. Mr. Balbeer came down from the tank and called MRPL Fire and Emergency Services through the OMS control room for emergency rescue, the complaint said. Meanwhile, another field operator, Vinayak Myageri, went to the rooftop for rescue. As he felt uncomfortable after smelling H 2 S, Myageri came down from the tank, she said. The MRPL Fire services team arrived at the scene 30 minutes later, but without the necessary breathing apparatus. There was no alarm for H 2 S gas leakage, the complaint said. The Fire Services and other MRPL personnel used the breathing apparatus sets available at the nearby department to bring down Prasad and Bharatiya. They were given first aid and shifted to a private hospital in Mukka, where they died. Myageri was undergoing treatment at a private hospital in Kuntikana in the city. She accused Factory Manager and other officials of OMS of negligence and sought action. The police registered her complaint under Sections 106 (causing death by negligence), 125(a) (act endangering life or personal safety of others), and 287 (Negligent conduct with respect to fire or combustible matter) of Bharatiya Nyaya Sanhita. Police said during the autopsy on Saturday, traces of H2S were found in the lungs of the two deceased persons. The police carried out a 'spot mahazar' on Sunday. Additional Deputy Commissioner of Dakshina Kannada, G. Santosh Kumar, said MRPL has already set up a high-level committee of Group General Managers for a detailed investigation of the incident. The district administration will look into the report of the committee and recommend necessary corrective actions, if needed, he said.
