Apr 25, 2013, 02.19 PM | Source: Moneycontrol.com
Cairn India's fourth quarter net profit fell by 23.4 percent quarter-on-quarter to Rs 2,563 crore, but rose 17.2 percent year-on-year.
Income from operations increased 2 percent QoQ and 19.5 percent YoY to Rs 4,363 crore in January-March quarter
Analysts on an average had expected net profit at Rs 2,670 crore on total income of Rs 4,327 crore during the fourth quarter.
Other income grew by 22 percent QoQ to Rs 222 crore in March quarter.
Cairn posted a foreign exchange loss of Rs 2.8 crore in fourth quarter as against gain of Rs 235.7 crore in previous quarter.
Earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 11 percent QoQ to Rs 2,892.4 crore and EBITDA margin declined quite significantly to 66 percent versus 76.2 percent QoQ.
The company decided to pay dividend of Rs 6.5 per share.
Axis Direct recommended hold rating on Cairn India
Mitessh Thakkar of miteshthacker.com is of the vie
Ashish Kyal of Waves Strategy Advisors advises buy
ICICI Direct recommended hold rating on Cairn Indi
The company has reported forex loss at Rs 79 crore