{"id":70051,"date":"2022-10-27T12:42:00","date_gmt":"2022-10-27T07:12:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=70051"},"modified":"2022-10-27T13:40:38","modified_gmt":"2022-10-27T08:10:38","slug":"multibagger-petroleum-stock-tanks-11-after-sharp-decline-in-net-profit","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/multibagger-petroleum-stock-tanks-11-after-sharp-decline-in-net-profit\/","title":{"rendered":"Multibagger petroleum stock tanks 11% after sharp decline in net profit"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-234919241\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>IndianOil\u2019s group company, Chennai Petroleum Corporation\u2019s shares tanked after the company reported its quarterly results for the September quarter (Q2FY23). The company\u2019s shares were trading at \u20b9 208.00 apiece at 11:47 AM on Thursday. This is an 11.22% fall as compared to its closing price of \u20b9 234.30 apiece on Tuesday\u2019s closing bell.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-292792511\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>On a consolidated basis, Chennai Petroleum Corporation reported a 120% growth in its total revenues at \u20b9 19,508.82 crores in September 2022, as compared to \u20b9 8,856.06 crores in September 2021. However, its consolidated net profit tanked 72.27% to \u20b9 16.93 crores in September 2022 from \u20b9 61.05 crores in September 2021.&nbsp;<\/p><p>When compared with the June quarter (Q1FY23), the company\u2019s net profit has highly diminished by 99.28% to \u20b9 16.93 crores from \u20b9 2357.62 crores in June 2022. Analysts say that a sharp fall in the gross refining margins (GRM) combined with the impact on profits of the special additional export duty on oil, resulted in a fall in the net profits of the company.\u00a0<\/p><p>The company\u2019s EBITDA stood at \u20b9 231.59 crores in September 2022, down 24.79% from \u20b9 307.93 crores in September 2021. Further its EPS decreased to \u20b9 1.14 in September 2022 from \u20b9 4.10 in September 2021.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-4294208507\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Despite lower profits, there was a sharp improvement in the debt service coverage ratio in H1 (the first half of a fiscal year, April through September) from 2.60X to 6.37X year-on-year. In addition, its interest coverage ratio has also improved from 6.69X to 26.41X and its operating margins for the first half were higher at 7.86% compared to 2.10% in the H1 of the previous fiscal year.&nbsp;<\/p><p>On a year-to-date basis, Chennai Petrochemicals is a multibagger stock. Its share price has increased from \u20b9 103.30 to the current levels, indicating multibagger returns of 101.65%. Therefore if an investor would have invested \u20b9 1 lakh in the company\u2019s shares at the beginning of this year, the value of their holdings would have been \u20b9 2.01 lakhs today!&nbsp;<\/p><p><strong>Written by Simran Bafna&nbsp;<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-160880000\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>IndianOil\u2019s group company, Chennai Petroleum Corporation\u2019s shares tanked after the company reported its quarterly results for the September quarter (Q2FY23). The company\u2019s shares were trading at \u20b9 208.00 apiece at 11:47 AM on Thursday. This is an 11.22% fall as compared to its closing price of \u20b9 234.30 apiece on Tuesday\u2019s closing bell.&nbsp; On a [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":16803,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-70051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Multibagger petroleum stock tanks 11% after sharp decline in net profit - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/multibagger-petroleum-stock-tanks-11-after-sharp-decline-in-net-profit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Multibagger petroleum stock tanks 11% after sharp decline in net profit\" \/>\n<meta property=\"og:description\" content=\"IndianOil\u2019s group company, Chennai Petroleum Corporation\u2019s shares tanked after the company reported its quarterly results for the September quarter (Q2FY23). 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