Chennai Petro cracks 10% after Q2 net loss comes in at Rs 452.39

Shares of Chennai Petroleum Corporation (CPCL) cracked over 15 per cent in trade on Thursday after the company reported a loss of Rs 452.39 crore during the quarter ended September 2015 as against loss of Rs 233.14 crore, a year ago.
   
The stock ended the day 9.81 per cent lower after hitting an intraday low of Rs 181.30, down 15.51 per cent on the Bombay Stock Exchange (BSE).

The company's total income from operations dipped to Rs 5,982.44 crore from Rs 10,616.31 crore.

Company's average gross refining margin (GRM) during April to September 2015 came in at $5.99 a barrel as against $2.11 barrel during April to September 2014.

Peak networh of the company during the last four years prior to 2014-15 was Rs 3,793 crore and the networth as on March 2014 was Rs 1,722 crore.

The loss for the fiscal year ended March 2015 was Rs 39 crore and consequently the networth reduced to Rs 1655 crore as on March 31, 2015.