Oil and gas exploration firm Cairn India is likely to report over 12 percent quarter-on-quarter jump in profit for the June quarter on forex gain, states a CNBC-TV18 poll. The firm had reported Rs 2564 crore profit in preceding quarter.
Analysts estimate revenues to slide 6.6 percent Q-o-Q along with an over 100 bps fall in EBITDA margins which is estimated to be at 73.6 percent. Did you read: Cairn India Q1 net may fall 21.5% at Rs 3001.7 cr: Emkay Factors that will impact Cairn’s June quarter numbers
* Being a private exploration firm, it will reap full benefits of weak rupee and crude oil price as it prices its products in dollar terms. Also, the company is sitting on dollar deposits.
* Lower oil prices and higher share of government share in profit petroleum to affect EBITDA.
* The firm may record 3 percent jump in production from its Rajasthan assets to around 176 kbpd Watch out for
• Update on exploration and appraisal program and Bhagyam/Aishwarya ramp up.
• Status on government approval for drilling additional wells in Bhagyam,
* Mangala EOR (enhanced oil recovery) and infill drilling along with status on Barmer Hill development plan.
*Update on plans to take its market presence beyond Gujarat and Maharashtra through extension of its existing pipeline. The extended part of the pipeline is ready and operational and the company is targeting all coastal refineries of India to sell its crude.
Must Read:Cairn India Q1: Kotak expects net to fall 25% at Rs 2867 cr
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