Essar Oil disclosed a sharp rise in standalone net profit for the quarter ended March 2014. During the quarter, the profit of the company rose 5.04 times to Rs 10,080 million from Rs 2,000 million in the same quarter last year.
Net sales for the quarter rose 6.87% to Rs 252,740 million, compared with Rs 236,500 million for the prior year period.
The EBITDA was at Rs 20.53 billion compared to Rs 15.56 billion Q4FY13.
Suresh Jain, CFO, Essar Oil said, ''This is the first full year of operations of our expanded efinery. We are happy to share that our company has demonstrated excellent financials backed by solid operating performance, which has resulted in improved GRMs, EBIDTA, and PAT for the quarter, and closed our financial year with a profit of Rs 1.26 billion.''
| Quarterly Results - Standalone (Rs in mn) |
| As at | Mar - 14 | Mar - 13 | %Change |
| Net Sales | 252,740.00 | 236,500.00 | 6.87 |
| Net Profit | 10,080.00 | 2,000.00 | 404.00 |
| Basic EPS | NA | NA | |
Shares of the company gained Rs 0.7, or 0.91%, to settle at Rs 77.60. The total volume of shares traded was 1,131,179 at the BSE (Tuesday).
