Essar Oil FY09 net loss at Rs 455 cr

On-shore and off-shore exploration and production company Essar Oil today said its consolidated net loss for the year ended March 31, 2009, widened to Rs 455 crore, against Rs 41 crore in the same period previous fiscal.

Total income of the company rose to Rs 37,652 crore for the period under review, from Rs 563 crore in the same period ended March 2008, the Essar Group company said in a filing to the Bombay Stock Exchange.

Further, the board has decided to seek approval of shareholders for the issue of further equity shares and convertible debentures by way of private placement in domestic or international market for an amount not exceeding $2 billion.