Chennai Petroleum Corp net dips 15% to Rs 511 cr

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Chennai Petroleum Corp net dips 15% to Rs 511 cr
Indian Oil Group's Chennai Petroleum Corporation Ltd (CPCL) posted a decline 15.20% in its Profit After Tax (PAT). The amount was recorded as Rs 511.52 crore for the year ended March 31, 2011. It was during the same period last year, that the Chennai based company registered PAT at Rs 603.22 crore.

The company reported gross sales of Rs 38,128.26 crore for the year 2010-11 as against Rs 29,183.84 crore in the same period last year.

Chennai Petroleum Corporation Limited (CPCL) is a highly valued Refining Company. Formerly known as as Madras Refineries Limited (MRL), the company is dominant in South India. CPCL was established in 1965 as a joint venture between between the Government of India (GOI), AMOCO and National Iranian Oil Company (NIOC). In 2010-2011, the company recorded its gross sales to be Rs 38,128.26 crore, compared to Rs 29,183.84 crore in the same period last year.

Story first published: Wednesday, May 25, 2011, 9:30 [IST]
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