By IANS
New Delhi : The Chennai Petroleum Corp Ltd (CPCL), a subsidiary of the state-owned refining major Indian Oil Corp, posted a net profit of Rs.2.2 billion ($56 million) for the Oct-Dec quarter of the fiscal 2007-08. This was over 800 percent higher than the profit the same period past year, the company said Wednesday.
The CPCL’s total income rose by 20 percent to Rs.71 billion ($1.8 billion) in this quarter compared with same period last year.
“The company has posted a net profit of Rs.2,256.20 million for the quarter ended Dec 31, 2007 as compared to Rs.243.50 million for the quarter ended Dec 31, 2006,” the company said.
“Total income has increased from Rs.59,137.60 million for the quarter ended Dec 31, 2006 to Rs.71,029.90 million for the quarter ended Dec 31, 2007,” the IOC subsidiary said.