COMMENTARY
INTERVIEWS
SPECIALS
CHAT
ARCHIVES

Essar Oil's Q3 net at Rs 45 million up in terms of percentage of income

Essar Oil Limited has registered a net profit of Rs 258.5 million for the nine-month period ended December 31, 1998, showing a growth of 52 per cent as compared to the audited results of the previous financial period, on an annualised basis at pre-tax level.

The company has achieved a healthy net profit of 13.25 per cent of its total income as against 9.88 per cent during the previous financial period. The total income from operations stood at Rs 544.2 million for the quarter and the gross profit was Rs 99.7 million and net profit Rs 45.1 million.

EOL is the largest Indian drilling contractor in the Middle East and is the only Indian drilling contractor with international contracts. It employs over 500 Indian technicians in its Middle East operations.

The 10.5 MMTPA refinery is scheduled to be commissioned in a phased manner from December 1999 with all units to be fully commissioned by March 2000, as confirmed by the project's project management consultants -- ABB Lummus Crest. The refinery is of the highest technical standards and will have a state-of-the-art facility, the company said in a statement.

UNI

Business news