Chennai Petroleum (500110) Q1 24/25 earnings summary

Executive summary

• Audited standalone and consolidated financial results for the quarter ended June 30, 2024, were approved by the Board and reviewed by the Audit Committee.

• Statutory auditors issued unmodified opinions on both standalone and consolidated results.

• CEO/CFO certification affirms accuracy and completeness of the financial statements.

Financial highlights

• Standalone revenue from operations for Q1 FY25 was ₹20,361.17 crore, up from ₹17,985.67 crore in Q1 FY24.

• Standalone net profit for Q1 FY25 was ₹340.93 crore, down from ₹615.19 crore in Q1 FY24.

• Consolidated revenue from operations for Q1 FY25 was ₹20,361.17 crore, with consolidated net profit at ₹355.36 crore.

• Earnings per share (EPS) for Q1 FY25 stood at ₹23.01 (standalone) and ₹37.37 (consolidated).

• Average Gross Refining Margin for Q1 FY25 was $6.33/bbl, compared to $8.33/bbl in Q1 FY24.

Outlook and guidance

• The 9 MMTPA refinery project at Cauvery Basin Refinery, Nagapattinam, is progressing through a joint venture, with related assets and liabilities classified as held for transfer.