Business Standard

Essar Oil hits 52-week high on five-fold Q4 profit

The stock has rallied 14% to Rs 91 after reporting five-fold jump in net profit at Rs 1,008 crore for the quarter ended March.

Related News

has rallied 14% to Rs 91.20 after reporting a five-fold jump in net profit at Rs 1,008 crore for the fourth quarter ended March 31 2014 (Q4) due to a one-time foreign exchange gain of Rs 314 crore and healthy refining margins. The company had posted a profit of Rs 200 crore in the same quarter last year.

Net sales grew by 7% to Rs 25,211 crore on a year-on-year basis, Essar Oil said in a statement.

The gross refining margins (GRM) for the quarter stood at $10.12 per barrel. GRM is the difference between the per-barrel price of crude oil and the value of petroleum products produced by a refinery from it.

The stock opened at Rs 86 and hit a 52-week high of Rs 92.50 on the NSE. A combined 3.95 million shares have already changed hands on the counter in early morning deals on the NSE and BSE.

Read more on:   
|
|

Essar Oil hits 52-week high on five-fold Q4 profit

The stock has rallied 14% to Rs 91 after reporting five-fold jump in net profit at Rs 1,008 crore for the quarter ended March.

The stock has rallied 14% to Rs 91 after reporting a five-fold jump in net profit at Rs 1,008 crore for the quarter ended March.
has rallied 14% to Rs 91.20 after reporting a five-fold jump in net profit at Rs 1,008 crore for the fourth quarter ended March 31 2014 (Q4) due to a one-time foreign exchange gain of Rs 314 crore and healthy refining margins. The company had posted a profit of Rs 200 crore in the same quarter last year.

Net sales grew by 7% to Rs 25,211 crore on a year-on-year basis, Essar Oil said in a statement.

The gross refining margins (GRM) for the quarter stood at $10.12 per barrel. GRM is the difference between the per-barrel price of crude oil and the value of petroleum products produced by a refinery from it.

The stock opened at Rs 86 and hit a 52-week high of Rs 92.50 on the NSE. A combined 3.95 million shares have already changed hands on the counter in early morning deals on the NSE and BSE.
image

Read More

Modi rally draws retail investors

Brokers say individuals returning in big numbers, with hitherto inactive accounts seeing action

Recommended for you

Quick Links

Market News

Nickel rises by 0.1% on Asian cues

Traders strengthened positions amid a firming Asian cues

Oil prices rise further in Asia

Expectations of a decline in US crude inventories and robust economic data from the eurozone helped prices

Markets remain rangebound; HUL up over 2%, Hindalco dips 1%

Investors are optimistic about a possible solution between Greece and its international creditors to avert a debt crisis

Pharma shares in focus; Aurobindo Pharma hits new high

JB Chemicals, Alembic Pharma, Aurobindo Pharma, Ipca Laboratories and Dishman Pharma were up 3%-11% each.

Infinite Computer gains on board approval for share buyback proposal

The stock spurted 5% at Rs 171 after the board approved the buyback of shares at a maximum price of Rs 220 per share from the open market ...

 

Back to Top