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Chennai Petroleum Corporation Ltd (CPCL) has more than doubled its its standalone net profit at ₹360 crore for the quarter ended December 31, 2023, when compared to ₹143 crore in the year-ago quarter, aided by an increase in topline.
Revenue from operations was higher at ₹20,454 crore in Q3 of this fiscal, against ₹19,214 crore in Q3 FY23, an increase of 6.5 per cent. Total expenses were also higher at ₹19,975 crore, when compared to ₹19,030 crore in the year-ago quarter.
Profit before exceptional and tax stood at ₹481 crore against ₹186 crore. In the December 2023 quarter, crude throughput stood at 2.829 MMT (million metric tonnes) as against 2.MMT in the year-ago period.
For the nine months ended December 31, 2023, CPCL’s net profit was lower at ₹2,099 crore when compared to ₹2,530 crore in the same period of the previous fiscal. Revenue was lower at ₹58,449 crore against ₹69,558 crore in the year-ago period
The average gross refining margin stood at $8.98 per bbl during the April-December 2023 period, when compared to $112.70 per bbl in the year-ago period.
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