Confidence Petroleum shares up 2% on 13 new outlets opening

The company had reported 125.3 percent YoY jump in its June quarter net profit at Rs 32.02 crore and revenue has increased by 146.3 percent at Rs 875.13 crore.

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Confidence Petroleum shares were up more than 2 percent at Rs 77.48 on August 18 after the company commissioned 13 new auto LPG dispensing stations (ALDS) to cater green fuel requirement of cars and auto rickshaws.

With these 13 new locations the strength of company’s ALDS stations has reached to 248.

In May, the company added 16 new auto LPG dispensing stations and CNG retailing division in Bengaluru had crossed 50000 KG (per day) sale.

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The company had reported 125.3 percent YoY jump in its June quarter net profit at Rs 32.02 crore and revenue has increased by 146.3 percent at Rs 875.13 crore.

Confidence Petroleum India Ltd has presence in the LPG and allied business like cylinder manufacturing, bottling assistance to oil major PSU, CNG and Hi Pressure Cylinder manufacturing, Auto LPG dispensing stations, LPG cylinders maintenance, ethanol, crude distillation, LPG/CNG engineering services and logistics streams.

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