<div>Essar Energy Plc reported better-than-expected full-year earnings as improving refining capacity at its core oil refineries, Vadinar in India and Stanlow in Britain, pushed up margins.</div><div> </div><div>The London-listed power, oil and gas arm of privately owned Indian conglomerate Essar Group, said earnings before interest, taxation, depreciation and amortisation, on a current price basis, was $1.34 billion (Rs 7,999.80 cr) in the year ended March 31, compared with a company-provided analysts' estimate of $1.17 billion (Rs 6,984.90 cr approx).</div><div> </div><div>The company this year moved its year-end to March from December, making the previous comparative period a 15 month one.</div><div> </div><div>Full-year refining margins rose 88 per cent to $7.96 per barrel of oil at the company's core Essar Oil business, which owns a network of 1,600 franchised gas stations across India.</div><div> </div><div>Essar Energy's assets also include a 50 per cent stake in Kenya Petroleum Refinery Ltd, and 2,034 mmboe of reserves and resources at its exploration and production blocks.</div><div> </div><div>Essar Energy's shares, which have shed about 6 per cent of their value over the past year, were trading up about 2 per cent at 123 pence at 0704 GMT on Monday on the London Stock Exchange.<br /><br />(Reuters)</div>
