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Chennai Petroleum Corporation Ltd has reported a net loss for the fourth quarter of 2012-13 with gross refining margins down nearly to one-fifth of the margins in the corresponding quarter previously when it reported a net profit.
The oil refining company’s net loss for the quarter ended March 31, 2013, was Rs 392.23 crore (net profit: Rs 107.19 crore) on a total income of Rs 12,459.26 crore (Rs 10,332.40 crore).
The gross refining margin, the difference between the crude price and value of petroleum products it makes, was down to $0.80 a barrel ($4.46).
On the BSE the company’s share of Rs 10 closed at Rs 105.30, against the previous close of Rs 105.95.
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