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Chennai Petroleum shares jump 13% amid rally in energy stocks; scrip down 60% from record high levels
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2 min read | Updated on March 06, 2025, 10:06 IST
SUMMARY
On Tuesday, the company, in its exchange filing, said that the company's officials will be interacting with institutional investors and analysts on March 7 (Friday) in Chennai. The share price rallied on the day when the overall market witnessed healthy buying across the board.
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Chennai Petroleum Corporation is an oil refining company that produces petroleum products. | Image: Shutterstock
On Tuesday, the company, in its exchange filing, said that the company's officials will be interacting with institutional investors and analysts on March 7 (Friday) in Chennai.
The share price rallied on the day when the overall market witnessed healthy buying across the board.
Energy and oil & gas stocks, too, rallied on a notable decline in the prices of crude oil.
Chennai Petroleum Q3 FY25 Results
Chennai Petroleum Corporation, according to news reports, reported a standalone net profit of ₹10.46 crore in Q3 FY25, down 97.1% as compared to the ₹359.99 crore profit registered in the year-ago period.
Net sales declined by 25.6% YoY to ₹12,925.36 crore during the period under review.
Total operating expenditure fell by 24% to ₹12,863.45 crore in Q3 FY25 over Q3 FY24. The impact of lower raw material costs (down 20% YoY) was offset by higher costs of finished goods purchases (up 50.8% YoY) and higher other expenses (up 17.1% YoY).
Interest payments for the third quarter added up to ₹79.16 crore, up 58.4% YoY, as per reports.
For 9M FY25, Chennai Petro reported a net loss of ₹276.43 crore and net sales of ₹42,106.88 crore. The company recorded a net profit of ₹2,098.87 crore and net sales of ₹48,665.26 crore in the same period last year.
The average gross refining margin (GRM) for the period from April to December 2024 was $3.40 per barrel, which is significantly lower as compared with the GRM of $8.98 per barrel from April to December 2023.
About Chennai Petroleum Corporation
Chennai Petroleum Corporation is an oil refining company that produces petroleum products. It was formed in 1965 as a joint venture between the Government of India, Amoco, and the National Iranian Oil Company. CPCL is a subsidiary of IndianOil.
Chennai Petroleum share price trend
Shares of the company hit their record high level of ₹1,274 on July 16, 2024. Taking that level into account, the stock is currently down 58% (considering today's high level).
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