Cairn India is expected to report profit in April-June quarter supported by high oil price realisations as crude has surged 34 percent quarter-on-quarter. According to a CNBC-TV18 poll, the company is likely to see net profit at Rs 500 crore in Q1FY17 compared to a loss of Rs 10948.2 crore (incurred exceptional item of Rs 11674 crore) in last quarter.
During the quarter, revenue is seen at Rs 2097 crore against Rs 1717 crore on sequential basis. In Q1 EBIDTA is likely to be at Rs 791 crore versus Rs 497.7 crore while EBIDTA margin may stand at 38 percent versus 29 percent quarter-on-quarter.
Analysts polled by CNBC-TV18 see average oil realisation in Q1 at USD 37.3 per barrel versus USD 28.1 per barrel (QoQ). Total gross production in Q1 may be at 196 kbpd versus 197 kpbd (QoQ). Gross production in Rajasthan is likely to be flat at 167 kbpd against 168 kbpd (QoQ).
Analysts will keenly watch update on production sharing contract (PSC) extension, production ramp-up, reserve updates and clarity on cash utilisation. During the quarter few factors will be crucial: net realisation, forex fluctuation and guidance on production ramp-up, reserve upgrade and Cairn-Vedanta merger status.
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