Chennai Petroleum Corporation (CPCL) rose 2.39% to Rs 286.60 after the company's standalone net profit surged to Rs 2,358.79 crore in Q1 FY23 as against Rs 53.73 core in Q1 FY22.
Net sales surged to 183.6% to Rs 23,162.55 crore for the quarter ended 30 June 2022 as against Rs 8,166.46 crore recorded during the same period in the previous year.
The company reported profit before tax of Rs 3,199.30 crore in Q1 FY23, steeply higher than Rs 73.85 crore in reported in Q1 FY22.
Total expenses spiked 90.6% to Rs 24,254.16 crore in Q1 FY23 over Q1 FY22. Cost of raw materials consumed soared 141.66% YoY to Rs 18,532.35 crore in Q1 FY23.
Crude throughput in Q1 FY23 stood at 2.882 MMT, rising 41.62% from 2.035 MMT in Q1 FY23. Average gross refining margin (GRM) for Q1 FY23 stood at $25.04 per bbl as against $5.68 per barrel in the corresponding period last year, up 340.85% on a YoY basis.
On the margins front, the company's operating margin improved to 14.11% in Q1 FY23 as compared with 2.15% recorded in the corresponding quarter last year. Net profit margin increased to 10.18% in Q1 FY23 from 0.67% recorded in Q1 FY22.
Chennai Petroleum Corporation refines crude oil and markets petroleum and petrochemical products. State-run Indian Oil Corporation held 51.89% stake in the company as on 30 June 2022.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app