Chennai Petroleum Corporation Limited (CPCL) has delivered a sharp financial turnaround in the first half of FY2026-27, with profit after tax (PAT) soaring to Rs 3,288 crore from Rs 675 crore a year ago, powered by stronger refining margins, higher revenue and robust operational performance.

 

The company also announced an interim dividend of Rs 25 per equity share of face value Rs 10 each for FY2026-27, signalling confidence in its financial performance and commitment to shareholder returns.

 

For the half year ended September 30, 2026, CPCL’s revenue from operations jumped to Rs 51,486 crore from Rs 38,762 crore in the corresponding period of the previous financial year. Profit before tax (PBT) surged to Rs 4,397 crore from Rs 914 crore, underscoring the scale of the improvement in earnings.

 

The momentum was equally strong in the July-September quarter. Revenue from operations rose to Rs 22,109 crore from Rs 20,069 crore in the same quarter last year. PBT more than tripled to Rs 3,032 crore from Rs 994 crore, while PAT climbed to Rs 2,271 crore from Rs 732 crore.

 

A steep improvement in gross refining margins (GRM) provided a major boost to CPCL’s financial performance.

 

The company’s GRM for the second quarter surged to US$ 20.41 per barrel, compared with US$ 9.04 per barrel in the corresponding quarter of the previous year. For the first half, GRM more than doubled to US$ 14.34 per barrel from US$ 6.17 per barrel a year earlier.

 

The improvement in refining margins, coupled with higher revenue, helped drive the sharp rise in profitability.

 

CPCL maintained strong operational performance during the quarter despite planned turnaround maintenance at one of its crude units.

 

Crude throughput stood at 2.590 million metric tonnes (MMT) in Q2 FY2026-27, with capacity utilisation at 98%. For the six months ended September 30, 2026, throughput reached 5.438 MMT, taking capacity utilisation to 103%.

 

The performance highlights the company’s ability to sustain high utilisation levels while carrying out scheduled maintenance.

 

On a consolidated basis, CPCL reported a profit after tax of Rs 3,278 crore for the half year ended September 30, 2026, compared with Rs 694 crore in the corresponding period last year.

 

The strong first-half earnings, expanding refining margins and interim dividend declaration mark a significant improvement in CPCL’s financial performance in FY2026-27.