Russia-backed Indian refiner Nayara Energy posts record profit
NEW DELHI: NEW DELHI: India’s Nayara Energy, part owned by Russian oil major Rosneft, posted a record quarterly profit in April-June as its margins improved due to higher intake of discounted Russian oil and fuel exports.
Nayara posted a net profit of about 35.64 billion rupees($447.5 million) in the June quarter compared to a net loss of 1.39 billion rupees a year earlier, it said in a late evening stock exchange filing on Friday.
Rosneft and Kesani Enterprises Co Ltd, a consortium led by Trafigura Group and Russia’s UCP Investment Group, holds 49.13% stake each in Nayara.
