Chennai Petroleum Corporation today said its has reported a net loss of Rs 1,269.89 crore in third quarter of current fiscal, while it had a net profit of Rs 225.62 crore in the same quarter a year ago.
Total income of Chennai Petroleum Corp, a group company of the state-run Indian Oil, also declined to Rs 5,639.40 in the December quarter, from Rs 7102.90 crore of third quarter of last fiscal, it said in a filing to the Bombay Stock Exchange.
"The financial performance of the quarter has been adversely affected due to steep fall in crude and product prices and increase in value of consumption of raw materials," the company said.
While, for the nine-month period ended December 31, 2008, oil refiner registered a net loss of Rs 669.28 crore, whereas it had a net profit of Rs 779.03 crore in the same year-ago.
On Friday, shares of Chennai Petroleum Corporation closed at Rs 109.05, down 1.13 per cent on the BSE.