Essar Oil is locked in upper circuit for sixth day in a row, up 5% at Rs 60.35 after reporting operating profit of Rs 1,106 crore for the quarter ended June 30, 2013 (Q1), due to higher realization. The company had operational loss of Rs 178 crore in the same quarter year ago.
Meanwhile, India's second largest private refiner have seen its net loss for the quarter came down to Rs 863 crore from Rs 1,518 crore in the like period a year ago.
The loss was mainly due to negative forex fluctuations arising out of 10% rupee depreciation during the quarter, Essar said here in a statement.
The company said it revenue increased 12% to Rs 24,721 crore during the April-June quarter, compared to Rs 22,109 crore in the same quarter of fiscal 2012-13.
Revenue rose on the back of a 15% improvement of throughput, which stood at 5.14 million tonnes during the quarter, against 4.48 million tonnes during the same period in fiscal 2013.
The stock opened at Rs 63 and hit a low of Rs 57.35 on BSE. A combined 3.03 million shares already changed hands on the counter so far against an average sub 2 million shares that were traded daily in past two weeks on BSE and NSE. There are pending buy orders for 658,336 shares at 1140 hours.
Meanwhile, India's second largest private refiner have seen its net loss for the quarter came down to Rs 863 crore from Rs 1,518 crore in the like period a year ago.
The loss was mainly due to negative forex fluctuations arising out of 10% rupee depreciation during the quarter, Essar said here in a statement.
The company said it revenue increased 12% to Rs 24,721 crore during the April-June quarter, compared to Rs 22,109 crore in the same quarter of fiscal 2012-13.
Revenue rose on the back of a 15% improvement of throughput, which stood at 5.14 million tonnes during the quarter, against 4.48 million tonnes during the same period in fiscal 2013.
The stock opened at Rs 63 and hit a low of Rs 57.35 on BSE. A combined 3.03 million shares already changed hands on the counter so far against an average sub 2 million shares that were traded daily in past two weeks on BSE and NSE. There are pending buy orders for 658,336 shares at 1140 hours.