Cairn India Q3 net profit soars multi-fold to Rs 604 cr

Cairn India Q3 net profit soars multi-fold to Rs 604 cr

Cairn India Ltd on Thursday reported a consolidated net profit of Rs 604 crore, substantially higher on year on year basis owing to lower depreciation charges seen in the reported quarter.

For the October-December 2016 quarter, the company reported a net profit of Rs 604 crore, multiple times higher from the Rs 40.90 crore net profit reported in the same period a year back.

Net revenue in the same period rose 5% year-on-year to Rs 2,149 crore from Rs 2,039 crore. “Net profit after tax was 22% lower quarter-on-quarter (QoQ) at Rs 604 crore due to forex loss and higher effective tax rate which was partially offset by higher Ebitda (Earnings before interest, tax, depreciation and amortisation) and lower depreciation,” the company said in its statement. Read More…

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