H Shankar, Managing Director, CPCL, at an interaction with media persons in Chennai
| Photo Credit:
BIJOY GHOSH
Chennai Petroleum Corporation Ltd, a standalone refinery company and part of Indian Oil Corporation, reported a net loss of ₹40 crore during the first quarter ended June 30, 2025 as against a net profit of ₹484 crore for the same quarter last year.
Revenue was down 8 per cent to ₹18,683 crore as compared to ₹20,361 crore.
H Shankar, Managing Director, CPCL, attributed the loss to wide fluctuations in the price of crude oil during the first quarter, revenue drop due to decline in sales. “We will do better in the second quarter,” he told businessline.
While the financial numbers were down, Shankar said on the positive side, the company has done “exceptionally well” on the physical performance, including in capacity utilisation.
The company recorded a crude throughput of 2.981 million tonnes (mt) for the June quarter as compared to 2.830 mt in the corresponding quarter of the previous financial year, with a capacity utilisation of 114 per cent. “This was further supported by best-ever distillate yield of about 80 per cent and excellent performance on energy front, demonstrating continued operational efficiency,” the release said.
The gross refining margin (GRM) for the quarter was $3.22 per barrel, down from $6.33 per barrel in the corresponding period last year. This decline was primarily due to inventory losses on crude oil and finished products of $1.9 per barrel as against inventory gain of $1.1 per barrel in Q1 of the previous financial year.
On the NSE, the company’s share price closed at ₹692.05, a ₹69.55 drop (-9.13 per cent).
Published on July 25, 2025