Essar Oil & Gas profit jumps 51% to Rs 335 cr in FY23 on higher prices
Essar Oil and Gas Exploration and Production Ltd (EOGEPL) on Monday reported a record net profit of Rs 335 crore in the financial year ending March 31, helped by reduced operating costs and higher prices.
Net profit of Rs 335 crore in 2022-23 compared with Rs 212 crore net profit in the previous fiscal, the company said in a statement.
The unconventional hydrocarbon producer reported its highest fiscal revenue of Rs 900 crore in FY23, a growth of about 1.8 times compared to the previous year.
EBIDTA grew over 205 per cent on a YoY basis to about Rs 700 crore.
