MUMBAI, May 11: Essar Oil, country’s second largest private refiner, has posted a net profit of Rs 200 crore for the quarter ended March 31, 2013 against a loss of Rs 608 crore in the same quarter last year.
The net profit during the quarter rose due to steep hike in gross refining margins.
The company’s gross revenues too increased by 34 per cent to Rs 25,757 crore from Rs 19,160 crore in the same quarter last year.
The company earned USD 9.06 on turning every barrel of crude oil into fuel during January-March quarter as compared to USD 4.60 per barrel gross refining margin in the same period last fiscal, company statement said.
(UNI)
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