 "Chennai Petroleum hits two-year high; zooms over 50% post Q4 results")
Shares of Chennai Petroleum Corporation were trading higher 3% to Rs 140, extending it’s rally on the BSE, after reporting robust set of numbers for the fourth quarter ended March 2015.
The stock hit a two-year high of Rs 142 on the BSE during intra-day trade today and zoomed 58% from Rs 90 on May 22, post fourth quarter results. The S&P BSE Sensex dipped 4.5% during the same period.
The state-owned oil refinery and petro-products manufacturer had reported over seven-fold rise in net profit at Rs 365 crore for the fourth quarter ended March 31, 2015, due to higher gross refining margins (GRMs). The company had profit of Rs 49.81 crore during the corresponding period of the previous year.
The company posted GRMs of $5.85 per barrel against $1.96 a year ago, Chennai Petroleum said in a BSE filing.
The stock hit a two-year high of Rs 142 on the BSE during intra-day trade today and zoomed 58% from Rs 90 on May 22, post fourth quarter results. The S&P BSE Sensex dipped 4.5% during the same period.
The state-owned oil refinery and petro-products manufacturer had reported over seven-fold rise in net profit at Rs 365 crore for the fourth quarter ended March 31, 2015, due to higher gross refining margins (GRMs). The company had profit of Rs 49.81 crore during the corresponding period of the previous year.
The company posted GRMs of $5.85 per barrel against $1.96 a year ago, Chennai Petroleum said in a BSE filing.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
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
SAVE 25%