Chennai Petro net loss at Rs 96.8 crore

Total income witnesses a dip of 2% to Rs 11,360 cr

Chennai Petroleum Corporation Ltd (CPCL) posted a net loss of Rs 96.80 crore for the quarter ended December 31, 2013, on a standalone basis, as against a net loss of Rs 464.83 crore during the same quarter last fiscal.

Total income from operations witnessed a dip of 2.01 per cent to Rs 11,360.33 crore for the quarter as compared with Rs 11,593.82 crore last year.

The company said gross refining margin for the quarter was $2.74/bbl as compared with $1.56/bbl for the corresponding previous quarter. In line with the scheme formulated by the Petroleum Planning and Analysis Cell, the company has received a discount of Rs 928.02 crore for the quarter (Rs 484.25 crore last year) from Oil and Natural Gas Corporation Ltd on crude oil purchase.