Chennai Petroleum Corporation reported a 43.5% sequential increase in revenue to ₹29,358.75 crore for Q1FY27, but profitability declined due to rising costs. The company posted a net profit of ₹1,016.67 crore for the quarter ended June 30, 2026, compared to ₹1,399.70 crore in the previous quarter ended March 31, 2026. The audited standalone financial results were approved by the Board on July 23, 2026.

Q1 Financial Performance

The surge in top-line performance was driven by higher operational activity, though margins faced pressure. The following table outlines the key financial metrics for the standalone entity:

Profitability and Margins

Despite the revenue growth, the company's profitability metrics contracted quarter-on-quarter. Profit before tax stood at ₹1,365.56 crore, down from ₹1,890.40 crore in the prior quarter. The decline in net profit was attributed to increased expenses, which rose to ₹28,010.89 crore from ₹18,585.74 crore. The cost of materials consumed increased significantly to ₹25,708.27 crore compared to ₹14,803.34 crore in the previous quarter.

Operational Highlights

Crude throughput for the quarter was 2.848 million metric tonnes (MMT), slightly lower than the 2.930 MMT recorded in the preceding quarter. The Average Gross Refining Margin (GRM) for April–June 2026 was US$ 8.78 per barrel, a substantial improvement from US$ 3.22 per barrel in the same period last year. The GRM excludes an additional revenue of ₹385.21 crore recognised during the quarter due to retrospective price revisions effective March 16, 2026.

Auditor and Governance Observations

The Statutory Auditors, R.G.N. Price & Co., issued an audit report with an unmodified opinion on the standalone and consolidated financial statements. However, the auditors noted that the company did not have the minimum number of Independent Directors, including one Woman Independent Director, throughout the reporting period. Additionally, the requirement of having two-thirds Independent Directors on the Audit Committee and Nomination & Remuneration Committee was not complied with. The company stated that appointments are under consideration by the Government of India.

Chennai Petroleum Corporation Limited has fixed Friday, August 7, 2026, as the record date to determine shareholder eligibility for a final equity dividend of Rs 54 per share for the financial year 2025-26. The payout, which translates to 540% on the paid-up equity share capital, is subject to the approval of members at the forthcoming Annual General Meeting (AGM).

The Board of Directors of Chennai Petroleum Corporation Limited had recommended the dividend in a meeting held on April 24, 2026. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the company has now formalized the record date. The dividend will be paid to eligible members within 30 days from the date of the AGM, pending approval.

Dividend Details

Tax Deduction Requirements

The company noted that under the Income Tax Act, 2025, dividends are taxable in the hands of shareholders. Consequently, Chennai Petroleum Corporation Limited is required to deduct tax at source (TDS) at the time of payment. To facilitate the determination of the applicable TDS rate, shareholders have been requested to submit relevant documents by Friday, August 14, 2026.