July 25, 2026: Chennai Petroleum Corporation Limited (CPCL) reported a standalone net profit of Rs 10.1667 billion for the quarter ended June 30, reversing a net loss of Rs 566.2 million in the corresponding quarter a year earlier. Revenue from operations rose 57.14 percent year-on-year to Rs 293.5875 billion from Rs 186.8336 billion. Profit before tax stood at Rs 13.6556 billion against a pre-tax loss of Rs 801 billion a year earlier. Earnings per share, not annualised, was Rs 68.27 against a negative Rs 3.80.

The company put its average gross refining margin for April–June 2026 at USD 8.78 per barrel, against USD 3.22 per barrel in April–June 2025.

Against the immediately preceding quarter, the direction reverses. Standalone net profit was down 27.36 percent from Rs 13.9970 billion in the March 2026 quarter, and profit before tax down 27.76 percent from Rs 18.9040 billion — even though revenue from operations rose 43.53 percent from Rs 204.5529 billion. The June quarter of FY2026-27 captured the full impact of the West Asia crisis which caused high volatility in the global crude oil price movement.

The gap sits in the input line. Cost of materials consumed rose 73.67 percent sequentially to Rs 257.0827 billion from Rs 148.0334 billion, outpacing the revenue increase. Material cost absorbed 87.57 percent of revenue from operations in the June quarter against 72.37 percent in the March quarter, a swing of more than 15 percentage points.

(Source: PSU Watch)