Chennai Petroleum reports 34% jump in Q4 revenue; margin rises sequentially

Shares of Chennai Petroleum Corporation Ltd. (CPCL), a subsidiary of Indian Oil Corporation Ltd., gained as much as 6% on Friday to hit a day’s high of ₹663.85.

The uptick was seen after the company posted its March quarter earnings. Chennai Petro reported revenue of ₹17,249 crore during the March quarter, which was 33.5% higher compared to the previous December quarter.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at ₹784.6 crore, while margin stood at 4.6% from 1.9% last quarter.

The company has recommended a final dividend of ₹5 on face value of ₹10 each for the financial year 2024-2025. Record date for payment of final dividend would be intimated in due course.

The final dividend would be paid within 30 days from the date of declaration at the annual general meeting.

At present, Chennai Petro shares are trading 3.48% higher at ₹648.50. The stock has risen 6% in the last one month.