State-owned Mangalore Refinery and Petrochemicals Limited (MRPL) on Wednesday reported a strong turnaround in its financial performance for the third quarter and the first nine months of FY 2025-26, driven by higher revenues, improved margins and a sharp reduction in borrowings. The Board of Directors of MRPL, a subsidiary of Oil and Natural Gas Corporation (ONGC) and a Schedule A' Mini Ratna Category-I company, approved the standalone and consolidated financial results at its 272nd meeting held on January 14, 2026. For the third quarter ended December 31, 2025, MRPL's revenue from operations rose to Rs 29,720 crore, compared to Rs 25,601 crore in the corresponding period last year. Profit before tax jumped nearly five-fold to Rs 2,214 crore, while profit after tax increased to Rs 1,445 crore, from Rs 304 crore in Q3 of FY25. The company's EBITDA for the quarter stood at Rs 2,824 crore, reflecting improved operational efficiency. During the nine-month period, MRPL recorded revenue