Chennai Petroleum Corporation Ltd. (CPCL) posted a standalone net profit of ₹1,004 crore for the fourth quarter ended March, against ₹994 crore in the year-earlier period. Revenue from operations rose to ₹21,350 crore from ₹20,997 crore.
The throughput was 2.952 million tonnes corresponding to capacity utilisation of 112%. The fuel and loss was also lower at 8.9%, according to a regulatory filing.
Managing Director Arvind Kumar attributed the “good performance to focused approach on safe and reliable operation, capacity utilisation, energy savings and feed optimisation, which enabled secondary units to surpass the previous best.” It was also supported by robust margins prevailing in the International market that aided to post an all-time high profit, he added. The company has declared a dividend of ₹27 per share.
The above copy has been corrected for a factual error as it had erroneously referenced “FY23” as the time period for the profit. The correct time period was Q4. The error is regretted.