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Chennai Petroleum Corporation Limited (CPCL) has reported a standalone net profit of ₹229 crore for the quarter ended December 31, 2021 when compared with a net loss of ₹556 crore in the year-ago quarter.
Revenue from operations stood at ₹13,592 crore as compared to ₹11,470 crore in the year-ago quarter. Total expenses stood at ₹13,291 crore as against ₹11,450 crore. Profit before tax was ₹301 crore as against ₹53 crore.
In December 2021 quarter, crude throughput stood at 2.156 MMT as against 2.221 MMT in the year-ago period, according to a statement. For the 9-month period ended December 31, 2021, the company’s net profit stood at ₹348 crore when compared with a net profit of ₹6 crore in the same period the previous year.
Profit before tax stood at ₹465 crore as against ₹944 crore (the company incurred a deferred tax of over ₹900 crore last year).
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.
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