Cairn India Limited

NSE: CAIRN | BSE: 532792 | ISIN: INE910H01017 | Industry: Exploration & Production
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Motilal Oswal
Sales / EBITDA below est, led by lower realization and higher profit petroleum Below est: Cairn reported revenues at INR19b (est INR21b; -28% YoY, +10% QoQ) impacted by higher profit petroleum at INR5.5b (-39% YoY, +182% QoQ) and lower Rajasthan realization. Increase in D,D&A; (led by IndAS) and forex loss was partly compensated by (a) higher other income at INR5.3b (+38% YoY, -19% QoQ) and (b) lower tax rate at 2%. PAT stood at INR3.6b (-57% YoY, 103% QoQ). 1QFY17 realization/production below est: 1QFY1t Rajasthan realization at USD37.5/bbl (est 39; -33% YoY, +349% QoQ) implies 17.8% discount to Brent...
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