The company reported a pre-tax loss of Rs 402.90 crore during the quarter.

MRPL’s total throughput (crude + others) for Q1 FY26 was 3.52 million metric tonnes (MMT), down from 4.35 MMT in Q1 FY25.

Gross refining margin (GRM) fell to $3.88 per barrel in Q1 FY26, compared with $4.70 per barrel in the same quarter last year.

Earnings before interest, tax, depreciation, and amortization (EBITDA) stood at Rs 218 crore in Q1 FY26, a sharp decline of 66.46% from Rs 650 crore posted in Q1 FY25.

The company also noted that it processed 1,512 TMT of crude oil in April 2025 — the highest ever for any April — surpassing the previous record of 1,481 TMT set in April 2022. Additionally, MRPL completed the shutdown of major units in the Phase-2 complex during the quarter.

Mangalore Refinery and Petrochemicals, a subsidiary of ONGC, is Category 1 Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. The refinery has flexibility to process crudes of various API, delivering a variety of quality products. As on 30 June 2025, ONGC held 71.63% stake while Hindustan Petroleum Corporation (HPCL) held 16.96% stake in the company.