Essar Oil is currently the top loser on the BSE, down 4% at Rs.104 and this is its intra day low point. Coincidentally, on today’s day last year, 26^th May 2014 the stock had hit a new 52-week low at Rs.78.10.

The stock is down on the back of its poor performance for Q4FY15 wherein its net profit came in 45% (YoY) lower a Rs.546 crore and total income was also down 38% at Rs.15,609 crore. The dip in revenues is mainly due to lower crude oil price, which fell by about 50% as compared to Q4FY14. As against Q3, quarter, crude prices were down by about a third. Forex loss for the quarter rose from Rs.314 crore to Rs.349 crore – this plus lower topline dented the bottomline. EBITDA was down 13% at Rs.1804 crore.  Current Price Gross Refining Margin (CP GRM) for Q4FY15 though was highest ever at $10.41/bbl against $10.12/bbl (YoY).

During the quarter, Vadinar Refinery processed 5.12 MMT of crude, Vs 5.05 MMT during the same period last year, up 1.4%. Refinery processed 94% of Heavy and Ultra Heavy crude in its crude diet during Q4FY15, against 88% in the corresponding quarter last fiscal.