Essar Oil on Saturday reported net loss of Rs. 226 crore for the third quarter ended December 31, 2009.
The company had net loss of Rs. 1,230 crore for the quarter ended December 2008, Essar Oil said in a filing to the Bombay Stock Exchange.
“The results for the period ended December 31, 2009 are not comparable with the previous period ending on December 2008, in view of the start of commercial production of refinery with effect from May 1, 2008,” the company said.
Total income stood to Rs. 9,958 crore for the third quarter. It was at Rs. 8,405 crore in the same period previous fiscal.
Further, the company’s board has also appointed K.V. Krishnamurthy as independent director with immediate effect.