Nayara Energy, India’s second largest private oil refining and fuel marketing company, saw its net profit rise by a marginal 2 per cent in the third quarter ended December 31 as the company undertook a month-long maintenance shutdown and windfall tax impacted margins.
Net profit of Rs 869.8 crore in October-December compared with Rs 850.3 crore profit in the same period a year back, according to a stock exchange filing by the company.
Revenue from operations dropped to Rs 24,757.7 crore in the third quarter of the current fiscal from Rs 32,412.9 crore a year back.
This was mainly because the company fully shut its 400,000 barrels per day or 20 million tonnes per annum Vadinar refinery in Gujarat for about a month in November for routine maintenance.
