Cairn India Q1 net may fall 21.5% at Rs 3001.7 cr: Emkay

Emkay Equity Advisory has come out with its first quarter (April-June) earnings estimates for oil & gas sector. The brokerage house expects Cairn India to report a 17 percent growth quarter-on-quarter (degrowth of 21.5 percent year-on-year) in net profit at Rs 3001.7 crore.

Revenues are expected to decrease by 5.1 percent Q-o-Q (down 6.8 percent Y-o-Y) to Rs 4140 crore, according to Emkay Equity Advisory. Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 15.9 percent Q-o-Q (down 22.5 percent Y-o-Y) to Rs 3351.9 crore. Emkay Equity Advisory report on Cairn India We expect sales of Rs 41.4 billion, decline of 5.1 percent Q-o-Q, EBIDTA at Rs33.5 billion growth of 15.9 percent Q-o-Q and PAT at Rs30 billion up 17 percent Q-o-Q. We model an average of 173kbpd of production during the quarter as against 168bpd in 4QFY13. And net realisation at $94/bbl considering 10 percent discount to Brent.