Essar Oil dips on weak Q4 nos

Posts a net loss of Rs 515 crore in Q4FY12, against a net profit of Rs 321 crore in year quarter

Essar Oil has dipped 5% at Rs 49.10 after reporting a net loss of Rs 515 crore for the quarter ended March 2012, against a net profit of Rs 321 crore in the year-ago quarter.Gross revenue however, grew by 29% to Rs 19,160 crore during the quarter under review.

“Q4FY12 EBITDA (earnings before interest, taxes, depreciation, and amortization) at Rs 444 crore down 51% against Rs 911 crore in Q4 FY11. EBITDA for FY12 stood at Rs 2,106 crore, down 24% from Rs 2,779 crore for FY11 mainly due to sales tax incentive not available in Q4FY12 and lower throughput due to planned shutdown,” Essar Oil, India’s second-biggest private refiner said in a press release.

 

A combined 180,000 shares have changed hands on the counter in opening deals on the NSE and BSE.