MRPL Q3 Results: Profit Doubles, Stock Soars 12% in 2026

Strong Q3 Performance Ignites Investor Confidence

Shares of Mangalore Refineries and Petrochemicals Ltd. (MRPL) surged by as much as 12% on Wednesday, January 14, 2026, following the announcement of its strong financial results for the third quarter ended December 31. The public sector undertaking reported a significant jump in profitability and revenue, signaling robust operational performance that caught the attention of investors just before the market closed.

Profitability More Than Doubles

The company's net profit for the December quarter stood at ₹1,451 crore. This represents a substantial increase of over 131% compared to the ₹627 crore profit recorded in the preceding September quarter. This sharp rise in profitability underscores a period of enhanced efficiency and favorable market conditions for the refiner, highlighting its ability to convert revenue into actual profit effectively.

Solid Revenue Growth

MRPL's revenue from operations for the quarter grew by a healthy 9%, reaching ₹24,712 crore, up from ₹22,684 crore in the September quarter. The company noted that these revenue figures are adjusted for the excise duty component. The consistent top-line growth points to strong demand for its petroleum products and effective management of its production and supply chain operations during the period.

Operational Efficiency Drives Margin Expansion

A key highlight of the Q3 results was the remarkable improvement in operational profitability. Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) increased significantly to ₹2,784 crore from ₹1,489 crore in the previous quarter. Consequently, the EBITDA margin expanded by nearly 500 basis points, climbing to 11.3% from 6.6% quarter-on-quarter. This margin expansion is a critical indicator of the company's improved operational efficiency and its ability to manage costs effectively while capitalizing on refining margins.

Market Reacts to Strong Earnings

The stock market responded with immediate optimism to the impressive earnings report. MRPL's shares jumped 12% in intraday trading immediately after the results were declared. While some gains were pared by the closing bell, the stock finished the session 7% higher at ₹155.28 per share. This performance adds to a positive trend for the company, with its shares having gained 14% over the past year, reflecting sustained investor confidence.

Key Financial Highlights: Q3 FY26

To provide a clear overview of the quarterly performance, the key metrics are summarized below.

Analysis of the Performance

The strong quarterly numbers from MRPL can be attributed to a combination of factors. The significant expansion in EBITDA margins suggests that the company likely benefited from improved gross refining margins (GRMs), which is the difference between the cost of crude oil and the value of the finished petroleum products. Furthermore, the robust growth in both revenue and EBITDA indicates higher refinery throughput and efficient cost management. This performance positions MRPL strongly within the competitive oil and gas sector, demonstrating its operational resilience.

Conclusion and Forward Outlook

In summary, Mangalore Refineries and Petrochemicals Ltd. delivered an exceptional performance in the third quarter, marked by a doubling of net profit and a significant expansion in operating margins. The positive market reaction, with the stock surging 12%, reflects strong investor approval of the results. The company's board is scheduled to meet on January 15, 2026, to formally approve the quarterly results, an event that will be closely watched by the market.