 "Chennai Petroleum dips on disappointing Q2 results")
Chennai Petroleum Corporation (CPCL) has dipped 16% to Rs 181 on the BSE in the early morning trade after the company's net loss widens in September 2015 quarter at Rs 452 crore as compared to loss of Rs 233 crore in the same quarter year ago.
Total income from operations has dropped to Rs 5,982 crore from Rs 10,616 crore.
Company's average gross refining margin (GRM) during April to September 2015 was $5.99 a barrel as against $2.11 barrel during April to September 2014, CPCL said in a statement.
GRM stood at $10.09 barrel for the quarter April-June 2015.
At 09:27 AM, the stock was down 10% at Rs 192 on the BSE. A combined 1.83 million shares changed hands on the counter on the BSE and NSE so far.
Total income from operations has dropped to Rs 5,982 crore from Rs 10,616 crore.
Company's average gross refining margin (GRM) during April to September 2015 was $5.99 a barrel as against $2.11 barrel during April to September 2014, CPCL said in a statement.
GRM stood at $10.09 barrel for the quarter April-June 2015.
At 09:27 AM, the stock was down 10% at Rs 192 on the BSE. A combined 1.83 million shares changed hands on the counter on the BSE and NSE so far.
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