Net sales declined by 25.6% YoY to Rs 12925.36 crore during the period under review.
Total operating expenditure fell by 24% to Rs 12863.45 crore in Q3 FY25 over Q3 FY24. The impact of lower raw material costs (down 20% YoY) was offset by higher cost of finished good purchases (up 50.8% YoY) and higher other expenses (up 17.1% YoY).
Interest payments for the third quaeter added up to Rs 79.16 crore, up 58.4% YoY.
Profit before tax in Q3 FY25 stood at Rs 14.12 crore, down by 97.1% from Rs 481.05 crore in Q3 FY24.
For 9M FY25, Chennai Petro has reported a net loss of Rs 276.43 crore and net sales of Rs 42,106.88 crore. The company had recorded a net profit of Rs 2,098.87 crore and net sales of Rs 48,665.26 crore in the same period last year.
Average gross refining margin (GRM) for the period from April – December 2024 was $3.40 per barrel, which is significantly lower as compared with the GRM of $8.98 per barrel April – December 2023.
Chennai Petroleum Corporation (CPCL), one of the leading group companies of Indian Oil corporation, is one of the most complex refineries of its kind in the country, producing an array of value-added petroleum products. As on 31 December 2024, Indian Oil Corporation held 51.89% stake in CPCL.
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