Chennai Petroleum Q2 profit doubles

Chennai Petroleum Corporation (CPCL's) net profit during the quarter ended September 30, 2013 almost doubled to Rs 120.34 crore during the quarter ended September 30, 2013 from Rs 59.11 crore, a year ago.

Company's total income rose to Rs 13,111.95 crore from Rs 7,787.01 crore, an increase of around 68%.

The performance comes on the back drop of increase in Gross Refining Margin (GRM) which was at $7.07 a barrel during the quarter as compared to $4.60 a year ago.

The company reported exchange fluctuation loss of Rs 305.57 crore during the quarter.