Chennai: Chennai Petroleum Corporation Ltd (CPCL) reported a sharp turnaround in its financial performance for the first quarter of FY27, posting a standalone net profit of Rs 1,017 crore for the quarter ended June 30, 2026, against a net loss of Rs 57 crore in the year-ago period, aided by higher refining margins and strong operational performance.The company’s revenue from operations rose to Rs 29,359 crore during the April-June 2026 quarter from Rs 18,683 crore a year earlier. Profit before tax stood at Rs 1,366 crore, compared with a loss before tax of Rs 80 crore in the corresponding period last year. In Q4FY26, the company posted a standalone net profit of Rs 1400 crore.CPCL recognised additional revenue of Rs 385.21 crore during the June quarter following the government’s retrospective revision of the prices of certain petroleum products, effective March 16, 2026. The additional revenue relates to supplies made in March 2026 and has been excluded from the calculation of the company’s gross refining margin (GRM). Excluding this one-time gain, CPCL’s average GRM for Q1 FY27 stood at $8.78 per barrel, compared with $3.22 per barrel in the same period last year.Operationally, the company processed 2.85 million metric tonnes (MMT) of crude during the quarter, compared with 2.98 MMT in the corresponding period last year. Despite the marginal decline in throughput, CPCL achieved a refinery capacity utilisation of 108%, underscoring high plant reliability and operational efficiency. The company also recorded its highest-ever distillate yield during the quarter.On a consolidated basis, CPCL reported a net profit (PAT) of Rs 1,031 crore and revenue from operations of Rs 29,359 crore for the June quarter.
