Mangalore Refinery and Petrochemicals Limited reported a 194% rise in second-quarter profit to ₹1,881 crore, alongside a ₹3 interim dividend. The company's stock rose 5.38% despite a provisional ₹118.76 crore financial impact from a recent fire at its refinery unit.
Mangalore Refinery and Petrochemicals Limited (MRPL) reported a strong financial performance for the second quarter of the 2026-27 fiscal year. The company posted a net profit of ₹1,881 crore, representing a 194% increase compared to the ₹639 crore profit recorded in the same period last year. Following the earnings announcement, the company’s share price gained 5.38%, closing at ₹185.35 on the National Stock Exchange on October 14, 2026. The board also approved an interim dividend of ₹3 per equity share for shareholders.
The company’s revenue from operations reached ₹35,590 crore for the quarter, an increase of 37.1% from the previous year. This growth follows a similar positive trend for the first half of the fiscal year, during which the total profit reached ₹2,796 crore. These figures reflect the company's operational performance in the energy sector, which is often influenced by global crude oil prices and refining margins.
In addition to the financial results, the company provided an update on a fire incident that occurred on September 30, 2026, at its Coker Hydrotreater Unit. The incident, which resulted in one fatality, caused a provisional financial impact of ₹118.76 crore. This figure includes the estimated cost of damage to property, plant, equipment, and inventory. The company has stated that these assets are covered by insurance policies, and the impact has been accounted for in its financial reporting.
For investors, the primary area of focus will be the timeline for stabilizing operations at the affected unit and the eventual settlement of insurance claims. Future financial performance will likely depend on the company's ability to maintain high throughput and manage the volatility of refining margins, as well as its progress in normalizing operations following the recent incident.