Chennai Petroleum Reports Q1 Profit Of ₹1,031.35 Crore, Revenue At ₹29,376.45 Crore
· Free Press Journal
Mumbai: Chennai Petroleum Corporation Ltd (CPCL) on Thursday reported a consolidated net profit of ₹1,031.35 crore for the first quarter of the financial year 2026-27.
Revenue from Operations
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Consolidated revenue from operations for the quarter ended 30 June 2026 stood at ₹29,358.75 crore. This is an increase from ₹20,455.29 crore reported in the preceding quarter and also higher than the ₹18,683.49 crore in the same quarter last year.
Total Income and Expenses
The company's total consolidated income for the quarter was ₹29,376.45 crore. Total expenses for the period were ₹28,010.89 crore.
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Consolidated earnings per share (EPS) for the quarter ended 30 June 2026 was ₹69.26. This marks a change from ₹95.48 in the preceding quarter and a negative EPS of ₹2.69 in the year-ago period.
Prior Period Adjustments
An additional revenue of ₹385.21 crore, related to supplies made during March 2026, was recognised during the current quarter due to a retrospective revision in petroleum product prices effective 16 March 2026, the company said.
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The financial results for the quarter ended 30 June 2026 were subjected to audit, and the auditors issued an unmodified opinion. The company confirmed no outstanding listed non-convertible debentures as on the reporting dates.
Board Composition
The company did not meet the minimum number of Independent Directors, including one Woman Independent Director, required by the Companies Act, 2013, and SEBI regulations.
Furthermore, the Audit Committee and Nomination & Remuneration Committee did not comply with the requirement of having two-thirds Independent Directors throughout the reporting period.
The appointment of Independent Directors is under consideration by the Government of India, CPCL said.
Disclaimer: This report is based on the company's filed financial results (standalone or consolidated, as applicable) and is intended solely for informational purposes. It does not constitute investment advice or a recommendation to buy, sell or hold any security.