Chennai Petroleum Corporation Shares Up Over 10% After Q4FY24 Earnings; Announces Dividend Of ₹55 Per Equity Share

Chennai Petroleum Corporation Limited on Wednesday announced its standalone and consolidated earnings for the quarter ended March 31, the company announced through an exchange filing.

Shares Performance

After the release of the quarterly earnings, the shares of the company surged over 10 per cent on BSE.

The shares of the company at 1:49 pm IST were trading at Rs 1,066.05, up by 14.70 per cent.

During today's trading hour's, the company's shares reported the following performance: the shares opened at Rs 931.10, reached a high of Rs 1,083.70, and dipped to a low of Rs 915.10 as of 1:56 PM IST.

Financial Highlights

According to the regulatory filing, the company announced a dividend of Rs 55 per share.

In the exchange filing, it added, "The Board of Directors have recommended Preference dividend of 6.65 per cent on the outstanding preference shares amounting to Rs 33.25 Cr for the year and Final Equity dividend of Rs 55 Per equity share (face value: Rs.10 per equity share), subject to approval by the members of the Company."

Standalone Financial Results

The company's standalone revenue from operation stood at Rs 20,822.95 crore for Q4FY24 and the total income stood at Rs 20,826.44 crore. The total expenses were at Rs 19,982.92 crore, and the profit for the period stood at Rs 612.38 crore against Rs 1,004.19 crore in Q3FY24.

Consolidated Financial Results

On the consolidated basis, the company reported a total income of Rs 20,826.44 crore in Q4FY24 against 21,351.83 crore in Q3FY24.

The total expenses were at Rs 19,982.92 crore and the profit for the period of the company in the Q4FY24 stood at Rs 627.89 crore against Rs 1,012.81 crore in the previous quarter.