Cairn India profit up 23% on high oil prices | business | Hindustan Times
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Cairn India profit up 23% on high oil prices

Cairn India, a unit of UK-based explorer Cairn Energy, reported a 23 per cent rise in quarterly profit — its second straight quarterly rise, helped by higher oil prices.

business Updated: Jan 28, 2010 20:35 IST

Cairn India, a unit of UK-based explorer Cairn Energy, reported a 23 per cent rise in quarterly profit — its second straight quarterly rise, helped by higher oil prices.

The petroleum exploration and production company said its consolidated net profit in the October-December quarter of fiscal year 2009-10 rose to Rs 291 crore from Rs 236 crore a year ago.

In August 2009, Cairn India had begun pumping crude oil from its field in Rajasthan — the first major crude oil discovery in India in the last 20 years.