Chennai Petroleum - Q2FY221 Results - Angel Broking

Mr. Jyoti Roy - DVP - Equity Strategist, Angel Broking Ltd

Chennai Petroleum reported a 20.2% YoY degrowth in consolidated gross revenue to ₹9,733 crore for Q2FY21. Adjusted for Excise duties net sales were down by 47.4% YoY to ₹4,863 crore. Consolidated EBIDTA for the quarter stood at ₹608.2 crore as compared to a loss of ₹115.2 crore in Q2FY20. Sharp improvement in EBIDTA was driven by lower crude prices and inventory gains during the quarter. Consolidated net profit for the quarter came in at ₹292 crore as compared to loss of ₹214 crore in the corresponding quarter previous year. Company reported GRM of USD 9.7 per bbl for the quarter as compared to USD 2.03 per bbl in Q2FY20. Overall the company has posted a good set of numbers for the quarter.

Shares of CHENNAI PETROLEUM CORPORATION LTD. was last trading in BSE at Rs.67.8 as compared to the previous close of Rs. 64.55. The total number of shares traded during the day was 169122 in over 1953 trades.

The stock hit an intraday high of Rs. 70.3 and intraday low of 64.25. The net turnover during the day was Rs. 11518290.

Source : Equity Bulls

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