26 Jul 2022 , 09:32 AM
On a sequential basis, revenues were higher for the quarter by 41.12%. For Q1FY23, CPCL reported higher top line on the back of better crude prices leading to better gross refining margins.
Being a pure play refining company, CPCL did not have to worry about the pressure on marketing margins. However, the idea of windfall taxes has sullied the rally in the stock to a large extent.
For the quarter, CPCL reported operating margins of 14.11% compared to 2.18% in the year ago period. Due to the sharp spike in the profits of CPCL, its debt service coverage ratio improved from 2.44 to 6.82 times yoy.
At the same time, the interest coverage ratio also improved from 2.95 times to 44.67 times. The debt equity ratio has come to below 1 in the current fiscal. Net margins were 10.18% in Q1FY23 quarter compared to 0.69% in Q1FY22. NPM was higher as compared to 6.10% in Q4FY22.
Financial highlights for Jun-22 compared yoy and sequentially
Chennai Petroleum | |||||
Rs in Crore | Jun-22 | Jun-21 | YOY | Mar-22 | QOQ |
Total Income (Rs cr) | ₹ 23,162.55 | ₹ 8,166.46 | 183.63% | ₹ 16,413.57 | 41.12% |
Net Profit (Rs cr) | ₹ 2,357.62 | ₹ 56.65 | 4061.73% | ₹ 1,001.92 | 135.31% |
Diluted EPS (Rs) | ₹ 158.32 | ₹ 3.80 | ₹ 67.28 | ||
Net Margins | 10.18% | 0.69% | 6.10% |
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