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HindustanTimes Sat,19 Apr 2014

Cairn India back in black

HT Correspondent, Hindustan Times  New Delhi, January 21, 2013
First Published: 23:42 IST(21/1/2013) | Last Updated: 23:43 IST(21/1/2013)

Beating market expectations and led by foreign exchange gains of Rs. 236 crore, Cairn India’s consolidated net profit rose by 44% to Rs. 3,345 crore in the third quarter of the current fiscal ending December.

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The company had recorded Rs. 786 crore loss in the corresponding quarter of 2011-12.

However, the company’s income from operations declined 4% to Rs. 4,278 crore as it paid royalty for operating its Rajasthan oil blocks in Cairn India has a 70% participating interest along with ONGC’s 30% stake.

Shares closed the day at Rs. 340.30, up 0.95% before earnings announcement.

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