Highest-ever quarterly revenue by Essar Oil in Q3 as CBM output doubles

The company reported 100% offtake of gas through GAIL's Urja Ganga pipeline

Doubling of coal bed methane (CBM) production and favourable global gas prices have allowed Essar Oil and Gas Exploration and Production Ltd (EOGEPL) to report its highest-ever quarterly revenue of Rs 219 crore in the third quarter of FY23.

Quarterly revenue rose 54 per cent year on year, while EOGEPL posted a record revenue of Rs 696 crore in the first nine months of FY23, the firm said on Monday.

In Q3FY23, its earnings before interest, taxes, depreciation and amortisation (Ebitda) grew by 100 per cent to Rs 171 crore, while its profit after tax (PAT) was up 273 per