Naresh Nayyar

Essar Energy reports 97% jump in revenues for first half of current fiscal

Essar Energy reports 97% jump in revenues for first half of current fiscalLondon Stock Exchange-listed energy giant Essar Energy has reported remarkably strong jump in revenues and operating profit for the six-month period ended September 30.

In the April-September period, Essar Energy's revenues jumped 97 per cent from the previous eight months to settle at $12.84 billion, thanks to its acquisition of Shell's Stanlow refinery. Essar Energy had acquired Stanlow refinery in July last year for $350 million.


Essar Energy reports pre-tax loss of $1.15 billion

Essar Energy reports pre-tax loss of $1.15 billionEssar Energy, which is promoted by Ruia brothers Ravi Ruia and Shashi Ruia, has announced a pre-tax loss of $1.15 billion during the 15 months till March 2012.

The company has moved from accounting period till the month of December to the April-March accounting period and has thus reported the results for a period of 15 months. London-listed Essar blamed the negative ruling by the Supreme Court in a tax case for the pre-taxation loss during the period.


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