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Cairn India Q2 profit seen up 17%, Raj gross output may rise 2%

Cairn India's second quarter consolidated profit is seen rising 17 percent to Rs 421 crore and revenue may grow 6.1 percent to Rs 2,001 crore on sequential basis, according to average of estimates of analysts polled by CNBC-TV18.

October 21, 2016 / 10:34 IST
     
     
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    Cairn India's second quarter consolidated profit is seen rising 17 percent to Rs 421 crore and revenue may grow 6.1 percent to Rs 2,001 crore on sequential basis, according to average of estimates of analysts polled by CNBC-TV18.

    Operating profit during the quarter is likely to increase 8.5 percent to Rs 861 crore and margin may expand 90 basis points to 43 percent quarter-on-quarter, supported by higher realisation due to lower discount for Rajasthan crude and modest increase in production volumes.

    Analysts expect net realisation improvement on sequential basis and expect Rajasthan gross output to grow 2 percent.

    Key issues to watch out for:-Update on PSC extension-Production ramp-up-Reserve updates-Clarity on cash utilisation-Guidance on production ramp-up and reserve upgrade

    first published: Oct 21, 2016 08:34 am

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