Chennai Petro posts net loss of Rs 57 crore in Q1; clocks GRM of $3.22 per barrel

Chennai Petroleum Corporation (CPCL) has reported a standalone net loss of Rs 57 crore in Q1 FY26 as compared with net profit of Rs 343 crore recorded in Q1 FY25.

For the quarter ended on 30 June 2025, revenue from operations stood at Rs 18,683 crore, down 8.24% YoY.

The company posted a pre-tax profit of Rs 80 crore in Q1 FY26 as against a pre-tax profit of Rs 470 crore registered in Q1 FY25.

The gross refining margin (GRM) for the quarter was $3.22 per barrel, down from $6.33 per barrel in the corresponding period last year. This decline was primarily due to inventory losses on crude oil and finished products of US$ 1.9 per barrel as against inventory gain of US$ 1.1 per barrel in Q1 of the previous financial year.

CPCL has recorded a crude throughput of 2.981 million metric tonnes (MMT) for the quarter ended 30 June 2025, as compared to 2.830 MMT in the corresponding quarter of the previous financial year, with a capacity utilisation of 114%. This was further supported by best-ever distillate yield of about 80% and excellent performance on energy front, demonstrating continued operational efficiency.

On a consolidated basis, CPCL has posted a net loss of Rs 40 crore in Q1 FY2025-26 as against a net profit of Rs 357 crore. Net sales declined by 13.4% YoY to Rs 14,812.23 crore during the period under review.

Chennai Petroleum Corporation is in the business of refining crude oil to produce & supply various petroleum products and manufacture and sell lubricating oil additives.

The scrip tumbled 9.68% to end at Rs 687.35 on the BSE yesterday.

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