CPCL swings back to profit, earns Rs 719 crore in Q2 on strong refinery margins

New Delhi: Chennai Petroleum Corporation Ltd (CPCL) on Monday reported a net profit of Rs 719 crore for the September quarter, reversing losses from the previous quarter, as strong refinery margins and improved operating performance aided the rebound.

PSU Watch is now on Whatsapp Channels. Click here to join

Consolidated net profit of Rs 719.19 crore in July-September - the second quarter of current 2025-26 financial year - compared with a loss of Rs 633.69 crore in the year-ago period and a loss of Rs 40.10 crore in the preceding quarter, according to a stock exchange filing by the company.

CPCL, a subsidiary of state-owned Indian Oil Corporation (IOC), processed more crude oil into fuel in the quarter, leading to turnover climb to Rs 20,040 crore from Rs 14,429 crore in July-September 2024.

The company earned USD 9.51 on turning every barrel of crude oil into fuel in Q2, up from USD 3.22 per barrel gross refining margin in the preceding quarter.

It processed 3.013 million tonne of crude oil in July-September as against 2.098 million tonne a year back and 2.981 million tonne in April-June this year.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)