REUTERS - Power plant operator and oil refiner Essar Energy Plc reported a 7 percent decline in first-half core earnings as the impact of a weak rupee offset higher margins at the India-focussed company's key Vadinar refinery.
The London-listed power, oil and gas arm of privately held Indian conglomerate Essar Group said it had taken a $483 million hit due to the rupee's depreciation, the majority of which was unrealised.
Current price earnings before interest, tax, depreciation and amortisation (EBITDA) fell to $543.7 million in the six months ended September 30 from $582.6 million a year earlier.
Revenue rose 5 percent to $13.4 billion.
(Reporting by Richa Naidu in Bangalore; Editing by Supriya Kurane)
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