This multibagger stock jumped 171.76 per cent in the past one year!

The shares of Chennai Petroleum Corporation Ltd (CPCL) soared 20 per cent on Tuesday.

The shares of Chennai Petroleum Corporation Ltd (CPCL) soared 20 per cent on Tuesday. The shares of the company have been hitting the upper circuit in the past five consecutive sessions since May 31. There was a spurt in the volume of shares i.e. by more than 5.42 times on Tuesday.  

The company also posted impressive financial results for the quarter that ended on March 31, 2022. The company's quarterly consolidated financials reveal that the operating profit for Q4FY2022 stood at Rs 1,594.40 crore as compared to the operating profit of Rs 550.94 crore for Q4FY2021, an incredible increase of 189.40 per cent. Net sales for Q4FY2022 stood at Rs 20,997.13 crore, recording an increase of 42.78 per cent as compared to the net sales of Rs 14,705.48 crore in the same quarter last year. The net profit has also been on the upper side and stands at Rs 994.36 crore since the same period, which was at Rs 231.80 crore, higher by 328.97 per cent from Q4FY22.   

Furthermore, the board of directors has also recommended an equity dividend of Rs 2 per equity per share for the financial year 2021-22. The face value of each equity share is Rs 10.  

Chennai Petroleum Corporation Limited (CPCL), formerly known as Madras Refineries Limited (MRL) was formed as a joint venture in 1965 between the Government of India (GOI), AMOCO and National Iranian Oil Company (NIOC) having a shareholding in the ratio 74%, 13% and 13% respectively. The company is in the business of refining crude oil to produce & supply various petroleum products.

The shares of the company are up by 27 per cent since the past week alone whereas, they have gained 171.76 per cent over the year on BSE.  

The shares ended 14.74 per cent higher at Rs 368.50 on BSE.investors should keep an eye on this multibagger in the future.