Chennai Petroleum Corporation Ltd (CPCL), a group company of IndianOil, has bounced back to the black during the financial year 2009-10 by achieving a profit after tax of Rs 603.22 crore, chairman B M Bansal said. The company had suffered a net loss of Rs 397.28 crore in the previous year. CPCL registered a net loss of Rs 61.06 in the fourth quarter of 2009-10 compared to a profit of Rs 272 crore in corresponding period of the previous year. K Balachandran, managing director, said gross sales for 2009-10 was Rs 29,183.84 crore against Rs 36,489.67 crore in the previous year. CPCL achieved a gross refining margin of $4.75 per barrel for the year 2009-10 as against $1.22 per barrel in 2008-09.

JK Lakshmi Q4 net dips

JK Lakshmi Cement on Tuesday reported a dip of about 32.63% in its net profit to Rs 70.12 crore for the fourth quarter ended March 31, 2010 against Rs 104.08 crore in the corresponding quarter last year. For the quarter ending March 31, net profit stood at Rs 25.54 crore, against Rs 26.67 crore last fiscal.