Essar Oil has achieved a 29 per cent jump in its gross revenue for the fourth quarter ended March 31, 2012 at Rs. 19,160 crore as compared to Rs. 14,846 crore in the same period in the previous year. It has reported a net loss of Rs. 515 crore against a net profit of Rs. 321 crore in the year-ago period.
Total revenue for the year ended March 31, 2012 was up 19 per cent at Rs. 63,340 crore against Rs. 53,119 crore in the previous year. The earnings before interest and depreciation charges were lower by 24 per cent to Rs. 2,106 crore from Rs. 2,779 crore.
The company said this was mainly due to sales tax incentive not available in the fourth quarter and lower throughput due to planned shutdown.
The gross refining margins for fourth quarter stood at $4.60 per barrel against $5.29, while for the full year it was $ 4.23 compared to $ 4.53 in 2010-11.
During the financial year under reference refinery expansion project to increase capacity to 18 million tonnes was completed.
Keywords: Essar Oil net profit