Essar Oil posts Rs 515 cr loss in Q4

Essar Oil reported a net loss of Rs 515 crore for the March quarter,against a net profit of Rs 321 crore in the year-ago period

Written by Press Trust Of India | New Delhi | Published: May 13, 2012 12:25 am

Essar Oil on Saturday reported a net loss of Rs 515 crore for the March quarter,against a net profit of Rs 321 crore in the year-ago period,despite a 29 per cent growth in gross revenues to Rs 19,160 crore. The company attributed the loss to expenditure on debt restructuring as well as non-availability of sales tax benefits.

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