Chennai Petroleum Corporation (CPCL), group firm of Indian Oil Corporation, today reported a fall of nearly 57 per cent in its net profit at Rs 304.72 crore for the first quarter ended June 30, over the same period in the previous fiscal.
Net sales of the company also fell to Rs 5,660.39 crore in the latest quarter of the current financial year (2009-10) from Rs 11,253.20 crore of the corresponding period last year, CPCL said in a filing to the Bombay Stock Exchange (BSE).
Gross refining margin during the April-June quarter stood at $6.86/bbl as compared to $15.89/bbl, the company added.
Shares of CPCL today closed at Rs 176.20, almost flat from its previous close on the BSE.
