Cairn India Q4 PAT seen down 0.5% at Rs 2250 cr QoQ

However, EBITDA is likely to jump nearly 16% QoQ to Rs 2,950 crore and operating profit margin too is seen improving at 83.2% versus 82.2% during the same period.

Sales are expected to go up by 14.5% to Rs 3,545 crore in January-March quarter of FY12 as against Rs 3,096.8 crore in the previous quarter.

Highlights

* Sequential topline growth driven by Bhagyam + higher crude realizations

* Bhagyam commenced production in Q4; will add an average of 12-13 kbpd to Mangala (Mangala is 125 kbpd, so production increase of around 10% QoQ)

* Bhagyam exit rate end March was around 20 kbpd; currently it is producing over 30 kbpd

* Q4 net realization is seen above USD 107/barrel, up 7% QoQ

* Forex losses on dollar denominated cash holding will impact PAT

* Forex loss could be between Rs 150 - 300 crore; bottomline will fluctuate accordingly

* Expect formal clarity on management committee approval for Mangala ramp up (received yesterday)

* Clarity on dividend policy post Vedanta takeover: Expected today 

* Announcement on reserve upgrades at Rajasthan