Mumbai: The Essar Oil UK , which owns and operates the Stanlow Refinery, Wednesday announced a record net profit of $169 million (Rs 1,082.61 crore) during the April-September period of 2017 as against $51 million (Rs 326.71 crore) in the corresponding the previous year. While the gross revenue in H1 of FY 18 is $ 2.7 billion (Rs17,296.2 crore) , the EBITDA is a record $264 million (Rs 1,691.18 crore) as against the EBITDA of $118 MILLION (Rs 755.91 crore) in H1 FY 17. The Current Price Gross Refining Margin (CP GRM) at $11.0/bbl against $7.6/bbl in H1 FY17.
The refinery, which as a key national asset produces 16% of the UK’s road transport fuel demand,
processed 4.5 MMT of crude, in line with the 4.5 MMT during H1 FY17.
Essar Oil UK Non-Executive Chairman, Prashant Ruia, said:Essar Oil UK continues to make good progress on its plans to invest $250 million (Rs1,601.5 cr) in capex and maintenance at Stanlow in FY18 to ramp up throughput, improve yields and drive revenues. This major investment will increase annual throughput from 68 million to 75 million barrels, he added.
