Essar Oil dips around 3% on poor Dec qtr numbers

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Essar Oil dips around 3% on poor Dec qtr numbers

Essar Oil has reported a net loss of Rs 3,968 crore for the December quarter compared to a net profit of Rs 273 crore in the year-ago period, mainly due to a sales provision of Rs 4,015 crore which the company will have to pay to the Gujarat Government.

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Essar Oil has reported a net loss of Rs 3,968 crore for the December quarter compared to a net profit of Rs 273 crore in the year-ago period, mainly due to a sales provision of Rs 4,015 crore which the company will have to pay to the Gujarat Government.

The stock touched an intraday high of Rs 67 and an intraday low of Rs 64.25. At 09:23 hrs the share was quoting at Rs 66.20, down Rs 1.85, or 2.72%.
 
It was trading with volumes of 294,729 shares. In the previous trading session, the share closed down 0.07% or Rs 0.05 at Rs 68.05.