Essar Oil Q1 net up at Rs 29.93 cr

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Essar Oil
New Delhi, Aug 1: Essar Oil Ltd on Friday, Aug 1 said its net profit stood at Rs 29.93 crore for the quarter ended June 2008 as compared to a net loss of Rs 5.67 crore for the same quarter last year.

Total income stood at Rs 9,016.03 crore for Q1 FY09 where as the same was at Rs 197.95 crore for the same period last fiscal. The company declared commercial production of its 10.5 MMTPA refinery wef May 01, 2008. ''Accordingly, the current quarter results comprise mainly of income and expenses arising out of Refinery production for May and June 2008 and arising out of trading operations for the previous periods. The current quarter figures are therefore not comparable with the previous periods' figures,'' a company statement said.


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