Riding on back of high refining margins, Essar Oil Ltd on Monday reported a net profit of Rs 273 crore in the quarter ended December 31, 2010 as against a loss of Rs 266 crore in a year ago period. The Mumbai-based firm earned USD 7.21 on refining of every barrel of crude oil in October-December quarter as against a gross refining margin (GRM) of USD 1.56 per barrel in the year ago period, Essar said in a statement here.
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Source: The Business Times
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