Essar Oil first quarter net surges 463%

Essar Oil has announced its unaudited results for the quarter ended June 30, 2009.

The company has posted a net profit of Rs 169 crore for the quarter ended June 30, 2009 against Rs 30 crore for the quarter ended June 30, 2008, a jump of 463%. Total income for the quarter stood at Rs 6,606 crore against Rs 8,764 crore, registering a negative growth of 24.62% on Year-on-Year (YoY) basis.

The current quarter results are not strictly comparable with the previous year quarter results as the commercial production from the refinery of the company started from May 1, 2008 and therefore previous periods figures have been regrouped/rearranged, wherever considered necessary, as indicated by the company in its filing with the BSE.