Essar Oil Q3 net profit rises 7-fold to ₹364 cr
India’s second biggest private refiner Essar Oil reported a seven-fold jump in net profit to ₹364 crore for the quarter ended December, on account of record refining margins. However, total revenue declined 37% to ₹13,947 crore as oil prices slumped to a 12-year low. Further, the contribution of retail in overall revenue improved to 16% from 6% a year ago.