Chennai Petro gains after recording PAT of Rs 229 crore in Q3

Chennai Petroleum Corporation rose 2.59% to Rs 106.80 after the company reported a standalone net profit of Rs 228.83 crore in Q3 FY22 as against a net loss of Rs 556.44 crore posted in Q3 FY21.

Net revenue from operations during the quarter rose by 69% YoY to Rs 9,939.29 crore.

Crude throughput in Q3 FY22 stood at 2.156 MMT, down by 3% from 2.221 MMT recorded in Q3 FY21. Crude throughput for 9M FY22 was 6.135 MMT, up 9% YoY.

The average gross refining margin (GRM) for April-December 2021 period was $6.28 per barrel as against $7.50 per barrel in the same period the previous year, registering a de-growth of 16% on YoY basis.

 

Chennai Petroleum Corporation refines crude oil and markets petroleum and petrochemical products. Indian Oil Corporation held 51.89% stake in the company as on 31 December 2021.

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