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We have a model of franchise owned franchise operated but we are now rethinking in terms of remodeling our strategy more towards company owned company operated, company owned dealer operated: Essar Oil
LK Gupta, MD & CEO of Essar Oil believes that it will be able to reach a reasonable figure of debt to EBITDA in next two years time.
Balrampur Chini, Reliance Communication are a miss whereas Apollo Tyres, Central Bank, Essar OIl are a hit for SP Tulsian.
Essar Oil Managing director and Chief Executive L K Gupta attributed the jump in GRM to higher complexity benefits of its refineries, wherein it was able to use more of the low cost but heavy crude and yet refine it to deliver lighter products
Essar Oil turned profitable in the December quarter mainly due to strong refining margins‘. L.K Gupta, the company's CEO also attributed the robust performance of the company to the expansion and upgradation seen during the quarter.
Essar Oil is set to declare its earnings for the third quarter of current financial year 2012-13 on Tuesday. Analysts on an average expect profit after tax at around Rs 30 crore in the quarter as against Rs 105 crore in previous quarter.
Essar Oil will focus on reducing debt in the ensuing quarters. L.K Gupta, the company‘s managing director and CEO told CNBC-TV18 the net debt burden has gone up by about seven percent, QoQ to Rs 15,000 in the September quarter.
MD and CEO of Essar Oil, LK Gupta, tells CNBC-TV18 that the profitability of the company was hurt by falling crude prices and the sharp rupee depreciation during the quarter.
Essar Oil is set to declare its results for the quarter ended June 2012. Analysts on an average expect the company to report a net loss of Rs 725 crore as against profit of Rs 469 crore in a year ago period.
In an exclusive interview with Naresh Nayar managing director of Essar Oil says the company's margins have improved on the back of rising global demand. "It is largely driven by the developments that have taken place with the Middle-East, as well as the Japanese crisis," he says.