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Shares of Chennai Petroleum Corporation (CPCL) rallied 16% to Rs 237, extending their previous day’s 15% surge on the BSE, after reporting a strong set numbers for the first quarter ended June 30, 2015 (Q1). The stock is currently trading at its fresh 52-week high on the bourses.
CPCL on Monday reported a strong 81% year-on-year (YoY) jump in net profit at Rs 924 crore for the quarter ended June 2015.
The company said it earned a higher gross refining margin (GRM) of US $ 10.09 per bbl during the quarter under review as against $ 1.88 per bbl during the same period last year as the product cracks have improved over the previous coupled with continued strong physical performance.
Meanwhile the company said that it has planned capital expenditure (capex) of about Rs 1,392 crore for the financial year 2015-16.
At 02:03 PM, the stock was up 13% at Rs 232 on the BSE. The trading volumes on the counter jumped more than three-fold with a combined 18.22 million shares changed hands on the BSE and NSE so far.
CPCL on Monday reported a strong 81% year-on-year (YoY) jump in net profit at Rs 924 crore for the quarter ended June 2015.
The company said it earned a higher gross refining margin (GRM) of US $ 10.09 per bbl during the quarter under review as against $ 1.88 per bbl during the same period last year as the product cracks have improved over the previous coupled with continued strong physical performance.
Meanwhile the company said that it has planned capital expenditure (capex) of about Rs 1,392 crore for the financial year 2015-16.
At 02:03 PM, the stock was up 13% at Rs 232 on the BSE. The trading volumes on the counter jumped more than three-fold with a combined 18.22 million shares changed hands on the BSE and NSE so far.
