Essar Oil shares zoom over 19% on strong Q4 earnings

Shares of Essar Oil today shot-up by over 19 per cent to touch a one-year high level in morning trade after it reported a five-fold jump in fourth quarter net profit.

Cheering the smart set of numbers that were declared post market hours yesterday, Essar Oil shares opened the day on a robust note and as the trade progressed it further surged 18.75 per cent to hit its one-year high level of Rs 92.15 on the BSE.

At the NSE, the stock zoomed 19.27 per cent to Rs 92.50 -- its 52-week high.

Essar Oil, India's second-largest private refiner, yesterday reported a five-fold jump in fourth-quarter net profit on higher refining margins and foreign exchange gains.

Net profit soared to Rs 1,008 crore in January-March from Rs 200 crore a year earlier, Essar Oil Managing Director & CEO L K Gupta had said on a conference call.

Revenue increased 7.5 per cent to Rs 27,691 crore. The company processed 5.05 million tonnes of crude oil in Q4, marginally lower than 5.08 million tonnes a year earlier.

EDITORIAL OF THE DAY

  • Sebi’s guidelines for commodity bourses will help farmers get fair price

    As the timeline for the proposed merger of the Forward Market Commission (FMC) with the Securities and Exchange Board of India (Sebi) comes closer, th

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

M S Swaminathan

State must intervene to end farm distress

The persistence of farmers’ suicides inspite of the several programmes ...

Zehra Naqvi

Why lie, not like, drives Facebook

So much has been written about how social media and ...

Gautam Gupta

It's a 'blog eat blog' world out there

Let me tell you, fashion journalism has truly taken the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture