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Essar Oil swings to net profit of Rs660 cr in Q4

Essar Oil swings to net profit of Rs660 cr in Q4
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First Published: Wed, May 20 2009. 11 04 AM IST
Updated: Wed, May 20 2009. 11 04 AM IST
New Delhi: Essar Oil Ltd swung to a profit in the fourth quarter after revenue surged. Net income was Rs660 crore in the three months ended 31 March after it started operating the refinery at full capacity, Essar Oil said in a statement to the Bombay Stock Exchange on Tuesday. It reported a loss of Rs8 crore a year earlier. Total income surged to Rs6,830 crore from Rs49 crore, it said.
Essar Oil shares closed up 5.9% at Rs158.45 in Mumbai trading, the highest level since 24 April.
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First Published: Wed, May 20 2009. 11 04 AM IST