Wednesday, November 7, 2012

CPCL drops after poor Q2 earnings

A sharp surge in interest expenses adversely impacted Chennai Petroleum Corporation's (CPCL) Q2 September 2012 results. CPCL's interest expenses galloped 1317.3% to Rs 131.81 crore in Q2 September 2012 over Q2 September 2011.

State-run oil refining-cum-marketing giant Indian Oil Corporation (IOC) holds 51.89% stake in CPCL as per the shareholding pattern as on 30 September 2012.

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