Essar Oil Limited (EOL) has registered a rise of 7% in its net profit at Rs.229.1 million for the half year ended September 30, 1999 as compared to Rs.213.4 million for the corresponding period last year. While the Company has registered a total income of Rs.1218.5 million (Rs.1357.0 million for the corresponding period last year), the Gross Profit is higher by 4% at Rs.334.5 million (Rs.320.4 million). After providing for depreciation of Rs.105.4 million (Rs.107.0 million), the Company has earned a Net Profit of Rs.229.1 million. Even though the total income is marginally lower, a strict control over expenses has enabled the Company to increase its Net profit.
The above results were taken on record at the meeting of Board of Directors held today.
CORPORATE