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Shares of Chennai Petroleum Corporation were trading higher 3% to Rs 140, extending it’s rally on the BSE, after reporting robust set of numbers for the fourth quarter ended March 2015.
The stock hit a two-year high of Rs 142 on the BSE during intra-day trade today and zoomed 58% from Rs 90 on May 22, post fourth quarter results. The S&P BSE Sensex dipped 4.5% during the same period.
The state-owned oil refinery and petro-products manufacturer had reported over seven-fold rise in net profit at Rs 365 crore for the fourth quarter ended March 31, 2015, due to higher gross refining margins (GRMs). The company had profit of Rs 49.81 crore during the corresponding period of the previous year.
The company posted GRMs of $5.85 per barrel against $1.96 a year ago, Chennai Petroleum said in a BSE filing.
The stock hit a two-year high of Rs 142 on the BSE during intra-day trade today and zoomed 58% from Rs 90 on May 22, post fourth quarter results. The S&P BSE Sensex dipped 4.5% during the same period.
The state-owned oil refinery and petro-products manufacturer had reported over seven-fold rise in net profit at Rs 365 crore for the fourth quarter ended March 31, 2015, due to higher gross refining margins (GRMs). The company had profit of Rs 49.81 crore during the corresponding period of the previous year.
The company posted GRMs of $5.85 per barrel against $1.96 a year ago, Chennai Petroleum said in a BSE filing.
