Essar Oil reports net loss of Rs 1,400 crore in Q1

Essar Oil has reported results for first quarter ended June 30, 2012.

On standalone basis, the company has reported a net loss of Rs 1,400 crore for the quarter ended June 30, 2012 against net profit of Rs  469.00 crore for the corresponding period last fiscal. However, total income increased by 33.48% at Rs 20,117 crore during the quarter under review from Rs 15,071 crore in the year-ago period.

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.