Chennai Petroleum Q4 net profit rises 632%, shares hit upper circuit

Shares of Chennai Petroleum Corporation surged 19.98 per cent to Rs 108.40 after the company announced its fourth quarter earnings on Monday.

For the quarter ended March 2015, the company registered net profit of Rs 364.57 crore, up 631.92 per cent, against Rs 49.81 crore in the corresponding quarter a year ago.

However, total income from operations fell 33 per cent year-on-year (yoy) to Rs 8,823.95 crore for the quarter under review.

For January-March period, the company reported total expenditure of Rs 8,388.79 crore, down 36.50 per cent, against Rs 13,211.18 crore in the corresponding quarter a year ago.

However, for the year ended March 2015, it registered net loss of Rs 38.99 crore against net loss of Rs 303.85 crore last year.