Essar Oil posts Rs 166 cr loss for July-Sept

Essar Oil loss of Rs 166 crore in July-September period was against Rs 130 crore net profit in the same period a year ago, the company said in a press statement

The sharp depreciation of the rupee against the US dollar resulted in Essar provisioning Rs 407 crore for forex liabilities in Q2. Of this, Rs 236 crore was realised in sales that happened in October and in effect neutralised the loss.

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