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Chennai Petro net loss at INR 96.8 crore

Chennai Petroleum Corporation Ltd (CPCL) posted a net loss of INR 96.80 crore for the quarter ended 31.12.2013, on a standalone basis, as against a net loss of INR 464.83 crore during the same quarter last fiscal. Total income from operations witnessed a dip of 2.01 per cent to INR 11,360.33 crore for the quarter as compared with INR 11,593.82 crore last year.

The company said gross refining margin for the quarter was $2.74/bbl as compared with $1.56/bbl for the corresponding previous quarter. In line with the scheme formulated by the Petroleum Planning and Analysis Cell, the company has received a discount of INR 928.02 crore for the quarter (INR 484.25 crore last year) from Oil and Natural Gas Corporation Ltd on crude oil purchase.

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