Chennai Petroleum Q2 Net Profit Surges 123% to ₹2,271 Crore; Declares ₹25 Interim Dividend

Chennai Petroleum Corporation Limited (CPCL), a subsidiary of Indian Oil Corporation Limited, has reported a sharp rise in net profit for the second quarter of FY 2026-27, with standalone profit after tax climbing 123% quarter-on-quarter to ₹2,271.29 crore.

The company had reported a net profit of ₹1,016.67 crore in the first quarter of FY27. The strong sequential growth in profitability came despite a decline in revenue from operations, which stood at ₹22,055.45 crore in Q2 FY27 against ₹29,358.75 crore in the preceding quarter.

CPCL’s earnings were supported by a significant improvement in refining margins. Its average gross refining margin (GRM) rose to US$20.41 per barrel during Q2 FY27, compared with US$9.04 per barrel in the corresponding quarter of the previous financial year.

EBITDA More Than Doubles

The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) increased to ₹3,031.57 crore in Q2 FY27 from ₹1,365.56 crore in Q1 FY27.

The EBITDA margin expanded to 13.74% from 4.65% in the preceding quarter, reflecting stronger operating profitability.

Crude throughput stood at 2.59 million metric tonnes during the quarter, compared with 2.85 million metric tonnes in Q1 FY27. The improvement in refining margins helped bolster earnings despite the lower throughput and sequential decline in revenue.

Board Declares ₹25 Interim Dividend

The CPCL Board has declared an interim dividend of ₹25 per equity share of ₹10 face value for FY 2026-27.

October 30, 2026, has been fixed as the record date to determine shareholder eligibility for the dividend. Payment is scheduled to be made on or before November 21, 2026.

The results underline the importance of refining margins in determining CPCL’s profitability, with the company recording a substantial sequential increase in earnings during the July-September quarter.