Essar Oil drops after weak Q4 result

Essar Oil lost 2.82% to Rs 105 at 15:15 IST on BSE after net profit fell 45.8% to Rs 546 crore on 37.6% fall in total income to Rs 16102 crore in Q4 March 2015 over Q4 March 2014.

The result was announced after market hours yesterday, 25 May 2015.

Meanwhile, the S&P BSE Sensex was down 129.98 points or 0.47% at 27,513.90

On BSE, so far 94,939 shares were traded in the counter as against average daily volume of 72,722 shares in the past one quarter.

The stock hit a high of Rs 106.50 and a low of Rs 103.70 so far during the day. The stock hit a 52-week high of Rs 132.50 on 10 September 2014. The stock hit a 52-week low of Rs 78.10 on 26 May 2014.

The large-cap firm has equity capital of Rs 1511.44 crore. Face value per share is Rs 10.

Essar Oil's throughput was up 1.38% to 5.12 million metric tonnes (MMT) in Q4 March 2015 over Q4 March 2014. The company's current price gross refining margin (CP GRM) was highest ever at $10.41/bbl in Q4 March 2015 compared to $10.12/bbl in Q4 March 2014.

Speaking about the results, LK Gupta, Managing Director and CEO, Essar Oil, said that going forward the company expects further improvement in its product mix in favour of still higher proportion of light and middle distillates post completion of Gasoil Maximisation Project, which is expected by end of October 2015.

Essar Oil is a fully integrated oil & gas company of international scale with strong presence across the hydrocarbon value chain from exploration & production to refining and oil retail.

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