Essar Oil Q3 net loss at Rs226 cr

Essar Oil Q3 net loss at Rs226 cr

Mumbai: Essar Oil on Saturday reported net loss of Rs226 crore for the third quarter ended 31 December, 2009.

The company had net loss of Rs1,230 crore for the quarter ended December 2008, Essar Oil said in a filing to the Bombay Stock Exchange (BSE).

The results for the period ended 31 December, 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 1 May, 2008, the company said.

Total income stood to Rs9,958 crore for the third quarter. It was at Rs8,405 crore in the same period previous fiscal.

Further, the company’s board has also appointed K.V. Krishnamurthy as independent director with immediate effect.