Chennai Petro net dips 15% to Rs 511 cr

Indian Oil Group's Chennai Petroleum Corporation Ltd (CPCL) has reported a 15.20% decline in its Profit After Tax (PAT) at Rs 511.52 crore for the year ended March 31, 2011.

The Chennai based company had registered PAT at Rs 603.22 crore during the same period last year.

The gross sales for the year 2010-11 was Rs 38,128.26 crore as against Rs 29,183.84 crore in the same period last year, CPCL Managing Director K Balachandran told reporters here after the company's board meeting.

The Board of Directors of have recommended a dividend of 120% for 2010-11, he said.