Q3FY23 results: Net profit of CPCL dips by over 37% on y-o-y basis

CPCL stated in a regulatory filing that its net profit has dipped by 37.5 percent from Rs 228.83 crore in Q3FY22 to Rs 142.95 crore in Q3FY23

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Q3FY23 results: Net profit of CPCL dips by over 37% on y-o-y basis

New Delhi/Chennai: State-owned Chennai Petroleum Corporation Limited (CPCL) stated in a regulatory filing that its net profit has dipped by 37.5 percent from Rs 228.83 crore in Q3FY22 to Rs 142.95 crore in Q3FY23. The company’s expenditure has gone up from Rs 13,290.93 crore in Q3FY22 to Rs 19,032.11, stated the filing.

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“CPCL’s revenue for operations increased from Rs 13,591.70 crore in Q3FY22 to Rs 19,214.18 crore in Q3FY23, registering a growth of 41.36 percent. Its total income has increased from Rs 13,592.27 crore in Q3FY22 to Rs 19,218.37 crore in Q3FY23,” it said.

“For the nine-month period, CPCL’s net profit was recorded at Rs 348.01 crore in FY22 to Rs 2529.63 crore in FY23. Its total expenditure also increased from Rs 39,022.83 crore to Rs 66,157.06 crore, registering a decrease of 41.01 percent,” it added.

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