Essar Oil posts Rs.1,521 Crore Net Profit in 2014-15

Chennai, May 25 (IANS): Essar Oil Ltd on Monday said it closed last fiscal with a net profit of Rs.1,521 crore up from Rs.126 crore posted during 2013-14.

In its regulatory filing in BSE, the company said its total income for last fiscal was Rs.83,206 crore down from Rs.98,602 crore.

According to the company, it suffered a loss of Rs.918 crore last year as abnormal inventory losses.

The company’s net profit during the last quarter of previous fiscal went down to Rs.546 crore from Rs.100.80 crore posted during the same period in last fiscal.

During Q4, the company’s total income decreased to Rs.15,609 crore from Rs.25,274 crore earned during the comparable period during 2013-14.

The abnormal inventory loss during the period under review was Rs.326 crore.