Mangalore Refinery Q2 Results: Swings To Profit, Revenue Rises 31%

Mangalore Refinery and Petrochemicals Ltd. swung to profit in the second quarter of this financial year.

It posted a consolidated profit of Rs 627 crore in the quarter ended September. This is in comparison to a loss of Rs 271 crore in the previous quarter, according to its stock exchange notification on Wednesday.

Revenue increased 30.5% quarter-on-quarter for the three months ended September, reaching Rs 22,649 crore. Operating income, or earnings before interest, taxes, depreciation, and amortisation, surged to Rs 1,489 crore. The Ebitda margin was at 6.6%.

Revenue from operations in the first half of this fiscal decreased to Rs 46,941 core in comparsion to Rs 56,075 crore posted in the same period of the previous fiscal. The profit for the first half of financial year 2026 stood at Rs 367 crore in comparison to the loss posted in the first six months of the previous fiscal.

The company's Devangonthi terminal achieved highest monthly dispatch of 65.40 TKL during September 2025.

The quarterly earnings were shared after market hours. The stock settled 0.77% higher at Rs 142.10 apiece on the NSE, compared to a 0.71% advance in the benchmark Nifty. Mangalore Refinery and Petrochemicals's shares have fallen 16.35% in the last 12 months and 4.25% year-to-date.

Out of the four analysts tracking the company, two maintains a 'buy' rating and two suggest 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 139.25 implies a downside of 2%.