Chennai Petroleum Q4 Results: Profit Rises 72%, Revenue At Rs 17,720 Crore
Chennai Petroleum Corporation's crude throughput rose 9.12% sequentially to 3.087 million tonnes compared to 2.829 million tonnes in the previous quarter.
Chennai Petroleum Corporation Ltd.'s profit rose in the fourth quarter of fiscal 2024.
The net profit of the petroleum product producer rose 72% quarter-on-quarter to Rs 628 crore in the quarter-ended March 31, 2024, according to an exchange filing on Wednesday.
Chennai Petroleum Q4 Highlights (Consolidated, QoQ)
Revenue up 2% at Rs 17,720 crore
Ebitda up 53% at Rs 1,042 crore
Margin expands 196 bps to 5.87% vs 3.91%
Net profit up 72% at Rs 628 crore
Chennai Petroleum Corporation's crude throughput rose 9.12% sequentially to 3.09 million tonnes compared to 2.83 million tonnes in the previous quarter.
The company's total borrowings for FY24 stood 31.2% lower at Rs 1,427 crore compared to Rs 2,076.3 crore as of FY23.
The scrip rose as much as 14.92% to Rs 1,066.65 apiece, the highest level. It pared gains to trade 14% higher at Rs 1,058 apiece as of 1:13 p.m. This compares to a 0.36% advance in the NSE Nifty 50.
It has risen 51.92% on a year-to-date basis and 249% in the last twelve months. Total traded volume on the NSE so far in the day stood at 9.78 times its 30-day average. The relative strength index was at 70.74.
Out of the four analysts tracking the company, two maintain a 'buy' rating and two suggest a 'sell,' according to Bloomberg data. The average 12-month consensus price target implies a upside of 41.7%.