This small-cap stock is in the business of refining crude oil to produce and supply various petroleum products fell almost 17 percent following a 27.89 percent year-on-year revenue decline for Q2 FY25.
Share price variations:
With a market capitalization of Rs. 11,675.40 crores, Chennai Petroleum Corporation Ltd. fell to an intraday low of Rs. 752.10 representing a 16.9 percent decrease from its previous closing price of Rs. 879.50 per share.
Reason for the Rise:
According to exchange filings, Chennai Petroleum Corporation Ltd reported a net loss of Rs. 633.69 crores in Q2 FY25, compared to a profit of Rs. 1,195.41 crores in Q2FY24. On a quarter-on-quarter basis, the company deviated to a loss from a profit of Rs. 357.03 crores in Q1 FY25.
Revenue from operations declined by 27.89 percent year-on-year to Rs. 14,429.11 crore, compared to Rs. 20,012.13 crore in the same period last year. Sequentially, revenue decreased by 29.14 percent from Rs. 20,365.28 crore in Q1 FY25.
For the first half of FY25, Chennai Petroleum Corporation Ltd’s revenue declined by 8.43% to Rs. 34,794.56 crores, down from Rs. 38,000.15 crores in H1 FY24. The company reported a net loss of Rs. 276.61 crores during this period, in contrast to a profit of Rs. 1,751.91 crores in the same period the previous year.
About the company:
Chennai Petroleum Corporation Ltd. a subsidiary of Indian Oil Corporation Ltd is in the business of refining crude oil to produce & supply various petroleum products and manufacture and sale of lubricating oil additives.
Indian Oil Corporation Ltd. (IOC) markets a majority of Chennai petroleum’s fuel products. As of FY24, the company’s revenue breakdown is 55 percent from High-Speed Diesel, 14 percent from Motor Spirit, 10 percent from Aviation Turbine Fuel, 8 percent from Naphtha, and 3 percent from LPG.
As of the September quarter, Dolly holds a 1.09 percent stake in the company, amounting to approximately 16.18 lakh equity shares, valued at Rs. 142.35 crores.
Written By: Joseph Pv
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