Coal news and updates

Essar Oil’s PAT surges to Rs 1,008 crore in Q4

May 20: Essar Oil Limited, part of the Essar Group, posted a profit after tax (PAT) of Rs 1,008 crore during the quarter ended March 31, 2014, compared to Rs 200 crore in the same period last year, the company said in a statement.

The company reported gross revenues of Rs 27,691 crore for the January-March quarter (Q4 FY’14), which was up 7.5% over Rs 25,757 crore earned in Q4 of FY’13.

Commenting on the company’s performance, L K Gupta, Managing Director and CEO, Essar Oil, said, “… the company has returned to profitability for the full year. Having breached the Rs 1 lakh crore revenue mark, Essar Oil is today’s one of India’s top 10 companies by topline.”

“Operationally we continue to do well with the refinery further optimising on its crude diet and product slate, which has resulted in the company delivering healthy GRMS at $10.12/bbl,” he added.