After reporting an increase of 26.93% in net profit in Q1 June 2007,  Chennai Petroleum Corporation came up 4.32% to Rs 296.95 in afternoon trading. The company declared the quarterly results during the market hours.

At the same time, the BSE 30-share Sensex was up 190.68 points, or 1.27%, to 15,099.

Today, the scrip had hit a high of Rs 310 and a low of Rs 292.55. On Jube 21 2007, the scrip has had its 52-week high of Rs 337 and a 52-week low of Rs 160 on 24 July 2006. The average daily volume of the scrip in the last one month was 53, 441 shares.

Today, there were 3.10 lakh shares for trading on the bourses. Within the last one month, CPCL stock developed 23.55% against the Sensex’s return 5.52%.

At present, the company’s current equity is Rs 148.94 crore, with 14.894 crore outstanding shares of a face value of Rs 10. At present, its market price of Rs 296.95 ignores its FY 2007 earning per share (EPS) of Rs 37.94, by a PE multiple of 7.82.

The company posted an increase of 26.93% to Rs 323.15 crore in its first quarter in Q1 June 2007 as compared to Rs 254.58 crore in Q1 June 2006. On the other hand, the companys’ sales came down 2.61% to Rs 6296.61 crore in Q1 June 2007 as against Rs 6465.61 crore in Q1 June 2006.

CPCL is a subsidiary of Indian Oil Corporation (IOC). It is a refining company and has presence in propylene, naphtha and other such high-value products.