Chennai Petro zooms on surge in net profit

DALAL STREET SPIKES

Chennai Petroleum Corporation (CPCL) gained 8 per cent to Rs 289.70 on reporting a surge in net profit to Rs 225.62 crore in Q3 December 2007 from Rs 24.3 crore in Q3 December 2006. CPCL's total income rose 20 per cent to Rs 7102.99 crore in Q3 December 2007 over Q3 December 2006.

The current price of Rs 289 discounts Q2 September 2007 annualised EPS of Rs 61.81 by a PE multiple of 4.6. The company is engaged in manufacturing and supplying petroleum products and other related products.