For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Cairn India Shares Dip Over 5 Percent On Biggest Quarterly Loss

By Super
|

Mumbai, Apr 25 (PTI) Shares of Cairn India today fell by over 5 per cent after the company reported its biggest quarterly loss of Rs 10,948 crore in the quarter ended March 31.

The stock after a weak opening further lost 5.11 per cent to Rs 143.65 on BSE. At NSE, it went down by 5.11 per cent to Rs 143.90.

Cairn India Shares Dip Over 5 Percent On Biggest Quarterly Loss
Cairn India: Quotes, News
BSE 285.4BSE Quote0 (0.00%)
NSE 285.35NSE Quote0 (0.00%)
 

On Friday, Cairn India had reported its biggest quarterly loss of Rs 10,948 crore in the quarter ended March 31, mainly because of impairment loss on goodwill and non-producing oil and gas assets due to drop in oil prices.

The company reported a net loss of Rs 240.82 crore in the year-ago period, it had said in a statement.

"Due to decline in crude oil prices in the international market, the Group has recorded an impairment on the carrying value of goodwill and some of its non-producing oil and gas assets aggregating to Rs 11,389.63 crore and Rs 284.17 crore respectively," it said.

Turnover fell 36 per cent to Rs 1,717 crore on lower oil prices.

PTI

Read more about: cairn india
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more