Mumbai: Ruias-led Essar Oil has reported a net profit of Rs29.93 crore for the first quarter ended June 2008, against a net loss of Rs5.67 crore in the corresponding period a year-ago.
“The total income rose to Rs9,016.03 crore in Q1FY09, from Rs197.95 crore in the year-ago period,” Essar Oil said in a filing to the Bombay Stock Exchange.
“The results of the June quarter are not comparable with that of the same period last year as it also includes the income and expenses arising out of the commercial production from its refinery in May and June 2008 as well the trading operations for the previous periods,” it said.
“Further, the board has accepted the resignation of A N Sinha, a non-executive director on board,” the filing said.
Shares of the company were trading at Rs187.10, down 0.29% in the early morning trade on the BSE.