Quote on Chennai Petroleum Q1FY22 results by Mr. Jyoti Roy, Angel Broking Ltd
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Below is quote on Chennai Petroleum Q1FY22 results by Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd
Chennai Petroleum reported a 31.5% YoY growth in consolidated gross revenue to ₹12,797 crore for Q1FY22. Adjusted for Excise duties net sales were up by 67.9% YoY to ₹8,166 crore. EBIDTA for the quarter stood at ₹291.3 crore as compared to ₹658.59 crore in Q1FY21. Contraction in EBIDTA was driven by higher crude prices and contraction in demand due to the second Covid wave. Consolidated net profit for the quarter came in at ₹56.65 crore as compared to profit of ₹269.9 crore in the corresponding quarter previous year. Company reported GRM's of USD 5.68 per bbl for the quarter as compared to USD 11.94 per bbl in Q1FY21. Overall the numbers for the quarter were adversely impacted due to the Covid crisis and fall in GRM’s.
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