Chennai Petroleum Corporation stock price soared 16.5 per cent to Rs 1,081.65 apiece, also its fresh record high, on the BSE in Wednesday’s intraday trade after the energy firm posted solid January-March quarter result (Q4FY24). That apart, the company’s 100 per cent rise in dividend payout further boosted investor sentiment.
At 1:30 PM, Chennai Petroleum Corporation share price was quoting 16 per cent higher at Rs 1,075.5 per share as against a 0.4 per cent uptick in the benchmark S&P BSE Sensex.
On Wednesday, April 24, 2024, Chennai Petroleum reported a whopping 71 per cent quarter-on-quarter (Q-o-Q) rise in consolidated net profit at Rs 627.89 crore vs PAT of Rs 365.3 crore posted in the December quarter. On a yearly basis, the profit was down from Rs 1,012.8 crore.
