Chennai Petroleum Q3 Net Profit Soars to ₹1,002 Crore; Shares Up 60% Annually

• Chennai Petroleum Corporation Limited (CPCL) reported a consolidated net profit of ₹1,002 crore in Q3 FY24, a significant increase from ₹20.8 crore year-on-year.
• Quarter-on-quarter, net profit rose by 35% from ₹731 crore in the September quarter.
• Revenue for the December quarter was ₹15,683 crore, up 21% year-on-year, but down 4% quarter-on-quarter.
• EBITDA improved by 29% quarter-on-quarter to ₹1,477 crore, with operating profit margin increasing to 9.4%.
• CPCL shares closed at ₹842.20, up 1.8% on Friday, and have seen a 60% rise over the last year.

Why It Matters: CPCL's Q3 net profit surged to ₹1,002 crore, driven by operational improvements and reduced finance costs.