Essar Oil reports 75% increase in retail sales in 2016-17

Mumbai:  Essar Oil, India’s second largest private oil refiner, on Friday reported robust growth across its refining and retail functions in 2016-17 with a 75 per cent increase in sales.

“Retail sales went up by 75 per cent to 2.8 million KL (kiloliters) in 2016-17 from 1.6 million KL in 2015-16. The refinery throughput grew by almost 10 per cent to 20.95 million tonnes, compared to 19.10 million tonnes in the previous fiscal,” Essar Oil said here in a statement.

“The retail network grew by almost 67 per cent,” the statement said.

Essar Oil had 3,499 operational outlets as on March 31, 2017, while 2,631 others were under various stages of implementation.

Lalit Kumar Gupta, MD and CEO of Essar Oil, said: “This year, we achieved the highest ever throughput since the commencement of commercial operations at the Vadinar Refinery in May 2008. Our retail growth was quite remarkable.” (IANS)