KR Choksey has come out with its second quarter (July-September) earnings estimates for the oil & gas sector. The brokerage house expects Cairn India to report a 5 percent growth quarter-on-quarter (up 42 percent year-on-year) in net profit at Rs 3,298 crore.
Revenues are expected to increase by 26 percent Q-o-Q (up 16 percent Y-o-Y) to Rs 5,137 crore, according to KR Choksey.
Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 32 percent Q-o-Q (up 12 percent Y-o-Y) to Rs 3,852 crore.
KR Choksey's Report on Cairn India:
Increased production to average of 1,81,000 bpd in Q2FY14 versus 1,80,000bpd in Q1FY14 and 171,800 bpd in Q2FY13
The company to post crude realization of USD 100 per barrel in Q1FY14, 7 percent discount to Brent.
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