Operating margins of the company stood at 1.8% for the quarter ended December 2009 compared to negative of 32.1% in the corresponding previous year period. As a result operating profits stood at Rs 120.44 crore compared to operating loss of Rs 1801.26 crore. Other income rose 304% to Rs 89.14 crore as it includes exchange fluctuation gain of Rs 65.80 crore for the quarter compared to exchange fluctuation loss of Rs 95.61 crore in the corresponding previous year period. Interest cost fell 58% to Rs 35.39 crore while depreciation rose 7% to Rs 68.29 crore resulting a PBT of Rs 105.90 crore compared to loss before tax of Rs 1926.30 crore.

Tax Expense for and upto the quarter is net of Rs. 149.70 Crore, being the reversal of provision made in the earlier years based on assessment order received during the quarter

For nine months ended December 2009 Chennai petroleum reported 28% fall in topline to Rs 19507.37 crore while bottomline of the company stood at Rs 664.28 crore compared to corresponding previous year period. OPM of the company stood at 4.7% compared to negative of 2.5% in the corresponding previous year period. Other income jumped 246% to Rs 166.09 crore, interest cost fell 48% to Rs 94.87 crore and depreciation increased 6% to Rs 202.74 crore leading PBT of Rs 778.44 crore compared to loss at PBT level of Rs 1011.07 crore. GRMs for nine months ended December 2009 stood at $4.84 per barrel compared to (-)$0.79 per barrel in the corresponding previous year period.

The scrip is currently trading at 235.