Overcoming The Gloom
Road building revival offers rare hope for India infrastructure overhaul
K. Ramchand, managing director at one of India's biggest road builders, is doing something unusual to help dispel the gloom pervading much of the country's infrastructure sector today: bidding for new projects. Full Article
- Nigella Lawson's husband downplays photos of him grabbing her neck
- UPDATE 3-Detroit default, restructuring plan break new ground -Moody's
- Apple got up to 5,000 data requests in six months
- UPDATE 1-Saudi Arabia says MERS coronavirus kills four more
- Snowden says 'litany of lies' prompted him to leak U.S. surveillance
REUTERS SHOWCASE
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
UPDATE 1-Essar Energy profit up on Stanlow boost
LONDON Nov 26 (Reuters) - Power plant operator and oil refiner Essar Energy reported an 18 percent rise in core earnings for the first-half as the benefit of a contribution from its British Stanlow refinery offset its struggling Indian power business.
The company, which is 77 percent-owned by privately held Indian conglomerate Essar Group, said operational earnings before interest, tax, depreciation and amortisation (EBITDA) was $383 million for the six months ended Sept. 30.
The company, which recently changed its accounting period, reported operational EBITDA of $324 million in the six months to June 30, 2011.
Essar said Stanlow, the second largest UK refinery which Essar acquired from Royal Dutch Shell last year, had operational EBITDA of $132 million in the first half.
The company's power business continues to be hit by regulatory and coal supply issues in India, where it is struggling to obtain the permits it requires to mine the coal needed to fuel its stations.
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters