Chennai Petroleum slumps after dismal Q2 earnings

Chennai Petroleum Corporation fell 10.72% to Rs 191.60 at 9:23 IST on BSE after the company reported net loss of Rs 452.39 crore in Q2 September 2015, higher than net loss of Rs 233.14 crore in Q2 September 2014.

The result was announced after market hours yesterday, 4 November 2015.

Meanwhile, the BSE Sensex was down 58.41 points, or 0.22%, to 26,494.51.

On BSE, so far 3.08 lakh shares were traded in the counter, compared with an average volume of 6.61 lakh shares in the past one quarter.

The stock hit a high of Rs 194.90 and a low of Rs 181.30 so far during the day. The stock hit a 52-week high of Rs 264.70 on 20 August 2015. The stock hit a 52-week low of Rs 62.20 on 25 March 2015.

The stock had underperformed the market over the past one month till 4 November 2015, falling 2.21% compared with 1.27% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 15.19% as against Sensex's 5.41% decline.

The mid-cap company has an equity capital of Rs 149 crore. Face value per share is Rs 10.

Chennai Petroleum Corporation's total income from operations (net) fell 43.65% to Rs 5982.44 crore in Q2 September 2015 over Q2 September 2014.

Chennai Petroleum Corporation (CPCL) has two refineries with a combined refining capacity of 11.5 million tonnes per annum (MMTPA). The Manali Refinery has a capacity of 10.5 MMTPA and is one of the most complex refineries in India with Fuel, Lube, Wax and Petrochemical feedstocks production facilities. CPCL's second refinery is located at Cauvery Basin at Nagapattinam. This unit was set up in Nagapattinam with a capacity of 0.5 MMTPA in 1993 and later enhanced to 1.0 MMTPA.

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