“Crude oil price volatility had an impact of $200 m (Rs.1,120 crore) on inventory”

Essar Energy plc, the London Stock Exchange-listed company, has reported pre-tax loss of $283 million (Rs.1,585 crore) for the first six months ended September 30, 2012, against a profit of $278 million (Rs.1,557 crore) in the first six months of 2011.

From the current year, the company has changed its financial year ending in March from December previously.

However, the company’s current price earnings before interest, tax, depreciation and amortisation has gone up by 193 per cent to $582.6 million (Rs.3,263 crore) from $198.6 million (Rs.1,112 crore) in January-June 2011.

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