CPCL Q4 Profit Down 25% on Lower Refining Margins

New Delhi, Mar 25 (PTI) Chennai Petroleum Corporation Ltd on Friday reported a 25 per cent drop in its March quarter net profit as refining margins fell on softening global oil rates.

Consolidated net profit was at Rs 469.93 crore in January-March (fourth quarter of 2024-25 fiscal year) compared with Rs 627.89 crore earnings in the same period of last financial year, according to a stock exchange filing by the company.

Revenue from operations was almost flat at Rs 20,580.65 crore.

For the full fiscal (April 2024 to March 2025), CPCL's net profit plunged to Rs 173.53 crore from Rs 2,711.25 crore in 2023-24.

CPCL said it earned USD 4.22 on turning every barrel of crude oil into fuel in FY25, down from USD 8.64 per barrel gross refining margin in the previous year.

The firm, which is a subsidiary of state-owned Indian Oil Corporation (IOC), processed 2.974 million tonnes of crude oil in Q4, slightly lower than 3.087 million tonnes processed in January-March 2024. In full 2024-25 fiscal, crude oil processing at 10.454 million tonnes was lower than 11.642 million tonnes processed in the previous year.