 "Chennai Petroleum up over 10% in two trading sessions")
Chennai Petroleum Corporation has rallied 6.5% to Rs 261, extending Wednesday’s 5% gain on BSE in an otherwise range bound market.
A group company of Indian Oil engaged in petroleum sector reported a net profit of Rs 98 crore for the quarter ended September 30, 2016 (Q2FY17), on back of higher operational income and lower finance cost. It had posted a net loss of Rs 450 crore in the corresponding quarter last fiscal.
Total income from operations during the quarter under review rose 40.5% to Rs 10,715 crore against Rs 7,624 crore in the corresponding quarter of previous year. Finance costs declined 43.6% to Rs 59 crore on year on year basis.
The company said average gross refining margin stood at $5.59 a barrel in Q2FY17 against $5.99 a barrel in Q2FY16.
At 12:49 pm, the stock was up 5.5% at Rs 259 on BSE as compared to 0.06% rise in the S&P BSE Sensex. A combined 406,315 shares changed hands on the counter on BSE and NSE.
A group company of Indian Oil engaged in petroleum sector reported a net profit of Rs 98 crore for the quarter ended September 30, 2016 (Q2FY17), on back of higher operational income and lower finance cost. It had posted a net loss of Rs 450 crore in the corresponding quarter last fiscal.
Total income from operations during the quarter under review rose 40.5% to Rs 10,715 crore against Rs 7,624 crore in the corresponding quarter of previous year. Finance costs declined 43.6% to Rs 59 crore on year on year basis.
The company said average gross refining margin stood at $5.59 a barrel in Q2FY17 against $5.99 a barrel in Q2FY16.
At 12:49 pm, the stock was up 5.5% at Rs 259 on BSE as compared to 0.06% rise in the S&P BSE Sensex. A combined 406,315 shares changed hands on the counter on BSE and NSE.