Chennai Petroleum Corporation Ltd (CPCL) has recorded a commendable financial performance for the financial year 2023. This can be attributed to factors such as improved capacity utilization, the addition of Russian crude to its portfolio, higher sales of value-added products, and cost savings in energy usage.
Q4 Results – QoQ
Chennai Petroleum Corporation Limited (CPCL) reported a net profit of Rs. 10.13 billion for the quarter ended March 31, 2023, which is a significant increase of 603.99% compared to the net profit of Rs. 1.44 billion recorded for the previous quarter ended December 31, 2022. The total income for the quarter ended March 31, 2023, was Rs. 213.52 billion, an increase of 11.13% from the Rs. 192.16 billion reported for the previous quarter ended December 31, 2022.
Q4 Results – YoY
In comparison to the corresponding quarter of the previous year, CPCL’s net profit for the quarter ended March 31, 2023, has increased by 1.14% from Rs. 10.02 billion to Rs. 10.13 billion. Additionally, the company’s total income for the same period increased by 1.72% from Rs. 210.04 billion to Rs. 213.52 billion.
Full Year Results
For the financial year ended March 31, 2023, CPCL’s total income was reported at Rs. 90.92 billion, a significant increase of 50% from the Rs. 60.48 billion recorded in the previous year. The net profit for the financial year ended March 31, 2023, was Rs. 35.32 billion, a notable increase of 160.15% from the Rs. 13.52 billion recorded in the previous year.