Essar Oil losses fall to Rs 26.9 crore June 06 quarter
Mumbai, Aug 4 (UNI) Essar Oil Ltd, of the Essar Group, has posted a net loss of Rs 26.9 crore in the quarter ending June 30, 2006, compared with a net loss of Rs 35.2 crore in the corresponding quarter last year.
Announcing the results, the company today said its total income rose to Rs 41.66 crore in the June 06 quarter compared with Rs 322.32 crore in the June 05 quarter, indicating a drastic decline of 87.07 per cent over the comparable quarter.
Marketing infrastructure expenses represent the extraordinary amount of Rs 9.75 crore for the quarter June 30, 2006 (Corresponding previous year quarter Rs 3.08 crore and previous accounting year Rs 35.37 crore) for creating, developing and retaining the marketing infrastructure.
Operating losses rose to Rs 23.11 crore for the quarter ended June 30, 2006 over the comparable quarters loss of Rs 26.43 crore.
During the quarter, it has received an advance of Rs 68.87 crore towards allotment of Global Depository shares to be issued.
UNI SN WD VKG1855