Essar Oil has posted a record net profit of Rs 2,162 crore in the 2015-16 fiscal.

Essar Oil, at the Annual General Meeting at Vadinar in Gujarat, informed the shareholders that it has earned a highest-ever USD 10.81 on turning every barrel of crude oil into fuel during the fiscal as compared to a current price gross refining margin of USD 8.37 a barrel in the previous year.

The company has said in a statement that “In FY2015-16, the company achieved its highest ever EBIDTA of Rs 7,773 crore, which was 35 percent higher than the previous year. The profit after tax was also at a new high of Rs 2,162 crore which is a rise of 42 percent from FY2014-15.”

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