Millennium Post

Company's Q2 Net dips 33%

Cairn India on Tuesday reported a 33 per cent drop in its September quarter net profit on back of lower oil prices and production from its prime Rajasthan oilfield. Net profit in July-September quarter fell to Rs 2,278 crore, or Rs 12.10 a share, from Rs 3,385 crore a year ago, or Rs 17.68 per share, Cairn said.

Revenue dipped 14 per cent to Rs 3,982 crore 'on account of lower volumes due to planned maintenance shutdown (at Rajasthan fields), realizations impacted by the softer global crude prices and higher profit petroleum tranche in Rajasthan.'
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