New Delhi: Chennai Petroleum Corporation Limited (CPCL), a group company of Indian Oil Corporation (IOC), reported a sharp turnaround in its financial performance for the December 2025 quarter (Q3 FY26), driven by a strong recovery in refining margins and higher refinery throughput.
The company announced its audited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, showing explosive growth in profitability.
Strong Revenue Growth in December Quarter
On a standalone basis, CPCL’s total income for Q3 FY26 stood at ₹19,467.40 crore, registering a 24% year-on-year increase compared to ₹15,687.64 crore in the same quarter last year.
Revenue growth was supported by improved product realizations and higher crude processing volumes during the quarter.
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Net Profit Jumps Over 92 Times Year-on-Year
CPCL reported a standalone net profit of ₹987.22 crore in Q3 FY26, compared to ₹10.46 crore in Q3 FY25, marking a massive 9,248% year-on-year jump.
- Profit Before Tax (PBT): ₹1,317.03 crore (vs ₹14.12 crore last year)
- Earnings Per Share (EPS): ₹66.30 (vs ₹0.70 last year)
The sharp rise in profitability highlights a strong operational and margin-led recovery.
Gross Refining Margin More Than Doubles
The key driver behind CPCL’s stellar performance was a significant improvement in Gross Refining Margin (GRM).
- Average GRM (Apr–Dec 2025): US$ 7.72 per barrel
- Average GRM (Apr–Dec 2024): US$ 3.40 per barrel
This 127% improvement enabled CPCL to earn substantially more on every barrel of crude oil processed.
Higher Refinery Throughput Boosts Performance
During Q3 FY26, CPCL’s crude throughput stood at 2.786 million metric tonnes (MMT). The company processed 9.2% more crude oil compared to the same quarter last year, reflecting improved refinery utilization and operational efficiency.
Nine-Month Performance Shows Strong Turnaround
For the April–December 2025 period, CPCL reported a complete financial turnaround:
- Total Income: ₹58,229.10 crore
- Net Profit: ₹1,662.15 crore
This compares with a net loss of ₹282 crore in the corresponding period last year, underlining the company’s improved financial health.
Consolidated Results Also Show Robust Growth
On a consolidated basis, CPCL reported:
- Q3 FY26 Net Profit: ₹1,001.59 crore (vs ₹20.78 crore in Q3 FY25)
- Q3 FY26 PBT: ₹1,331.40 crore
- Q3 FY26 EPS: ₹67.26
For the nine months ended December 31, 2025, consolidated net profit stood at ₹1,680.85 crore, with total income of ₹58,200 crore.
Audit and Disclosure
The financial results have been audited by R.G.N. Price & Co., which issued a clean audit opinion. Detailed financial statements are available on the BSE, NSE, and CPCL’s official website.
About Chennai Petroleum Corporation Limited
Chennai Petroleum Corporation Limited (CPCL) is a subsidiary of Indian Oil Corporation and operates major refineries in Chennai and Nagapattinam, Tamil Nadu. The company plays a key role in India’s downstream petroleum sector, producing fuels and petroleum products that support the country’s energy needs.
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