Shares of Chennai Petroleum lifted 5.5% from an intraday low of ₹1,377.3 to ₹1,451.9, marking a 71% YTD gain and a sharp rebound after the earnings report.
Profit after tax surged to ₹2,247 crore, a 109% jump from ₹1,031 crore in the prior quarter, while EBITDA climbed to ₹3,200 crore. Operating margin expanded to 15.6% from 5.7% sequentially, underscoring a significant efficiency lift.
Revenue slid 25% to ₹20,557 crore, partly due to a ₹385 crore adjustment for supplies earmarked for Q4 FY26. This one‑time charge explains the apparent drop in topline.
Gross refining margins surged to $20.41 per barrel, eclipsing the $8.78 per barrel seen in Q1 and the $9.04 per barrel year‑ago. The figure also tops MRPL’s $14.8 per barrel, positioning Chennai Petroleum as the sharper performer in the refining space.
An interim dividend of ₹25 per share was announced, and the stock trades at 3.2 times FY27 EPS versus MRPL’s 6.2 multiples, highlighting a valuation advantage.
Looking ahead, the firm has not issued Q3 FY27 guidance yet; investors will be watching for earnings due in the coming quarter for clues on future profitability and margin trajectory.