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

  • The solution to tackling recurrent droughts is in managing consumption of water, not its overuse

    A staggering 33 crore people or more than a quarter of the country’s population are in the grip of drought and consequently, face drinking water sho

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Tushar Gandhi

An unexplored side of rural enterprise

What is rural enterprise? Ask this qu­estion and 9 out ...

Kuruvilla Pandikattu

Black and white of morality

Would you kill one innocent person to save five? Choose ...

Shona Adhikari

Let's head to Bangalore & catch up on art

Bangalore art scene is bang in the middle of news, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture