Cairn India net rises 18% in Q4 2014

Oil and gas exploration and production company Cairn India on Wednesday reported that its consolidated net profit for the fourth quarter ended March 31, 2014 grew by 18.40 per cent at Rs 3,035.44 crore from the same period a year ago driven by a rise in other income.

In Q4 FY 2012-13, the company had posted a consolidated net profit of Rs 2,563.60 crore, Cairn India said in a filing to the Bombay Stock Exchange (BSE).

Total income from operations on a consolidated basis rose by 13.75 per cent at Rs 5,212.82 crore in Q4 FY 2013-14 from Rs 4,582.52 crore in the same period a year ago.

Other income on a consolidated basis increased nearly three-fold to Rs 407.01 crore in Q4 FY 2013-14 from Rs 221.93 crore in the same period a year ago.

Ahead of earnings, shares of company closed day's trading at Rs 352.30 a piece, down 3.27 per cent from previous close on BSE.

Cairn India is one of the largest independent oil and gas exploration and production companies in India. Cairn India was rated as the fastest-growing energy company in the world, as per 2012 & 2013 Platts Top 250 Global Energy Company Rankings.

Cairn India operates more than 25 per cent of India's domestic crude oil production.

With inputs from Dion Global