ICICIdirect.com has come out with its October-December quarter earnings estimates for the oil & gas sector. The brokerage house expects Cairn India to report a 12.2 percent fall quarter-on-quarter (down 11.2 percent Y-o-Y) in net profit at Rs 2,971.2 crore.
The revenue of the company is expected to rise by 5.4 percent Q-o-Q (up 14.6 percent Y-o-Y) to Rs 4,901.1 crore, according to ICICIdirect.com.
ICICIdirect on Cairn India:
Revenues are expected to increase 14.6 percent YoY due to rupee weakness and higher gross production.
Net oil & gas production would increase 8.1 percent YoY to 1,38,428.5 boepd while oil realisation is expected to decline 0.3 percent YoY to USD 95.9 a barrel.
We expect gross production from Rajasthan fields to increase 4.2 percent YoY to 1,83,933.8 barrels/day.
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