Bharat Forge’s net up in June quarter

Bharat Forge Ltd had a net profit of Rs 59.4 crore during the April-June quarter compared to profit of Rs 96 lakh last year in the same quarter, the company said in a filing to the Bombay Stock Exchange (BSE).

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Essar Oil posts Rs 70-crore loss

Ruias-promoted Essar Oil today posted a loss of Rs 70 crore for the first quarter, against a net profit of Rs 169 crore in the year-ago quarter, led by contraction in refining margins.

The company’s gross refining margin (GRM) — realisation on turning every barrel of crude oil into fuel — dropped 16.76 per cent to $5.61 a barrel from $6.74 a barrel in the corresponding quarter last year. The company’s shares today fell 1.80 per cent to Rs 130.60 on the Bombay Stock Exchange.

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