PSU stock jumps 12% after its net profit increases by 369% YoY in Q3

SYNOPSIS: MRPL posted strong Q3 FY26 results, with revenue rising 15 percent QoQ and net profit surging over 130 percent sequentially, reflecting improved margins, higher throughput, and favourable refining conditions.

During Wednesday’s trading session, shares of a state-owned oil refiner and fuel retailer and schedule “A” Mini Ratna Category surged nearly 12 percent on BSE, after reporting strong Q3 FY26 results with a rise in net profit by around 131 percent QoQ and 369 percent YoY.

Price Action & Movement

With a market cap of Rs. 27,770 crores, shares of Mangalore Refinery and Petrochemicals Limited closed in the green at Rs. 158.45 on BSE, up by over 9 percent, as against its previous closing price of Rs. 145.25. The stock has delivered positive returns of around 16 percent in the last one year, and has gained by nearly 6 percent in the last one month.

What’s the News

Mangalore Refinery and Petrochemicals Limited announced the financial results for the third quarter of FY26 on Wednesday during market hours, as per the latest regulatory filings with the stock exchanges.

For the quarter, the company posted a consolidated revenue from operations of Rs. 29,720.13 crores, reflecting a sequential growth of around 15 percent QoQ compared to Rs. 25,953 crores in Q2 FY26. On a year-on-year basis, revenue grew nearly 16 percent from Rs. 25,600.7 crores recorded in Q3 FY25.

Net profit for Q3 FY26 stood at Rs. 1,451 crore, indicating a significant increase of around 131 percent QoQ from Rs. 627.36 crores in Q2 FY26, and nearly 5x growth on a year-on-year basis by around 369 percent from Rs. 309.3 crores reported in Q3 FY25.

Additionally, EBITDA rose sharply by 87 percent to Rs. 2,784 crore from Rs. 1,489 crore in the previous quarter, while EBITDA margins expanded by nearly 500 basis points to 11.3 percent, up from 6.6 percent in September 2025.

Over the same period, the company’s debt-to-equity ratio also improved to 0.63, from 0.79 in Q2 FY26 and 1.05 in Q3 FY25.

In its Q2 FY26 concall, the management stated that crude throughput in Q3 is expected to exceed 4.43 MMT. With gross refining margins already strengthening in October, and assuming crude prices remain relatively stable, the company expects to deliver strong performance in the remaining quarters.

Mangalore Refinery and Petrochemicals Limited (MRPL) is a Central Public Sector Enterprise (CPSE) engaged in the business of refining crude oil and marketing of petroleum products. The company is a subsidiary of Oil and Natural Gas Corporation Limited (ONGC), which holds 71.63 percent equity shares.

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