Essar Energy has announced its financial results for the first half of the fiscal year 2010-11. The company has informed that, it has suffered a decline in net profit in the reviewed six months against its like period a year ago.

Essar Energy is one of the leading oil and Power Company of the country. The net profit of the firm was reported to be $112 million for the first half of the current year. For the same period of time, the net profit was recorded $155 million in the previous year.

Hence the company's net has gone down by 28% in H1 of the current year against last year.

Essar Energy has produced this fact in a statement. As per the company, it has got the benefit of inventory gains and higher retail marketing profits in this time period with the decline in the global oil prices.

However, the revenue of the company has gone up in these six months of time. The company's revenue has been gone up by 66% and has touched $4.76 billion in the first half of the fiscal.