NEW DELHI: Chennai Petroleum Corp Ltd today reported a net loss of Rs 55.31 crore in the quarter ended June 30 on lower refining margins. The Chennai-based firm had in April-June quarter of the previous fiscal reported a net profit of Rs 304.72 crore, according to the company's filing to the stock exchanges.

The company earned USD 1.79 on turning every barrel of crude oil into fuel in the quarter against USD 6.88 per barrel gross refining margin in Q1 of 2009-10 fiscal. Net sales rose to Rs 6,327.65 crore in Q1 this fiscal from Rs 5,660.39 crore a year ago. CPCL, a unit of state-owned Indian Oil Corp, turned 2.326 million tonnes of crude oil into product in April-June this year against 2.685 million tonnes throughout a year ago. Courtesy:ET