Essar Oil and Gas Exploration and Production today reported revenue of Rs 190 crore and a net profit of Rs 81 crore for the June quarter.
The PAT (profit after tax) for the quarter was up 12 per cent due to improvement in sales volume, it said in a statement. The revenue was down by 14 per cent due to the softening of crude oil prices by 24 per cent, which was cushioned by an increase in sales volume.
Post the completion of the Urja Ganga Pipeline in June 2021, EOGEPL’s (Essar Oil and Gas Exploration and Production Limited) Raniganj gas project is now seamlessly connected to the national grid, granting it access to the market.
