Vedanta Resources subsidiary Cairn India will announce its third quarter earnings today. According to CNBC-TV18 poll, analysts on an average expect operating profitability of oil and gas company to grow, but profit after tax may decline on reversal of mark-to-market forex gains.
They expect net profit to fall 9 percent on sequential basis to Rs 3,080 crore in the quarter ended December 2013.
They do not expect any mark-to-market foreign exchange gain in the quarter gone by as the rupee on an average was stable at 62 per dollar during the quarter. It had reported forex gain of Rs 430 crore in September ended quarter.
Revenue is seen going up by 7.5 percent to Rs 5,000 crore and earnings before interest, tax, depreciation and amortisation may grow 2.8 percent to Rs 3,630 crore compared to previous quarter.
Rajasthan production is expected to be around 183 kbpd, a 5 percent growth sequentially, driven by volume ramp in DA-1 block while crude realisation may be at around USD 95 a barrel, largely flat compared to previous quarter.
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