Continental Petroleums Ltd posts ₹1.41 crore profit in Q3

Continental Petroleums Ltd (CPL) on Monday posted a net profit of ₹1.41 crore in the December quarter.

Operating income on a standalone basis increased to ₹29.22 crore during the quarter, as against ₹9.16 crore in the same period last year, a company statement said.

According to the statement, CPL registered 90.54 per cent growth in standalone net profit to ₹1.41 crore for the third quarter, up from ₹0.74 crore same period last year on the back of a steady demand and increased share of high-margin value added products.

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Earnings per share increased to ₹2.53, as against ₹1.33 a year ago.

Madan Lal Khandelwal, Chairman and Managing Director of CPL, said, “Common treatment disposal/incineration facility (CTDF) has substantially contributed to our bottomline while the EPC vertical has significantly contributed to both the topline and bottomline of the company.” CPL is one of the leading manufacturers of industrial lubricants and greases in India.