Essar Oil hopes to refinance about USD 1.8 billion worth of debt in 3-6 months, LK Gupta, chief executive officer and managing director, told reporters on Friday.
"The focus is on dollarisation of debt. We expect to complete this in the next 3-6 months," Gupta said.
Essar Oil has RBI approval for refinancing upto USD 2.27 billion of rupee debt to dollars, and so far it has refinanced USD 481 million.
The privately-run refiner posted a net profit of Rs 2 billion in the quarter ended March. 31, from a loss of Rs 5.15 billion in the same period a year ago.
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