Essar Oil posts record Rs 1,063 Crores Q1 profit

Essar Oil reported its highest ever quarterly profit of Rs 1,063 Crores in April-June as strong refinery margins boost revenues by around 54%. The company posted a net profit of Rs 1,063 Crores in April-June as opposed to Rs 691 Crores in the same period of the last fiscal.

The company operates a 20 million tons a year refinery at Vadinar in Gujarat, and earned $11.05 for refining each barrel as opposed to $9.04 last fiscal.

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