Cairn India Q4 Net Up 12-fold at Rs 245 cr | business | Hindustan Times
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Cairn India Q4 Net Up 12-fold at Rs 245 cr

business Updated: May 27, 2010 22:27 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Cairn India on Thursday reported a 12-fold rise in consolidated net profit to Rs 245 crore for the fourth quarter ended March 31, as against Rs 19 crore in the same period last year. The strong numbers are mainly due to rising oil production from its Rajasthan fields.

The Thar desert oilfields began production in August 2009 and the earnings from the sale of crude produced were absent in Q4 of 2008-09.

Cairn is currently producing about 60,000 barrels per day of oil from the Mangala oilfield.