Saturday, January 30, 2010

>CAIRN INDIA LIMITED (INDIA INFOLINE)

First full quarter of crude oil production from Rajasthan field translates into 135% yoy growth in revenues.

Realization for crude oil was higher by 42% yoy, while that of natural gas was up 12.5% yoy.

OPM jumps 25ppts yoy on account of higher inventory available of crude oil for sales

Higher exploration write-offs, increase in interest costs and lower other income restrict net profit growth

Rajasthan sales volume ramp up slower than our earlier estimates, lowering estimates and factoring DCF value.

To read the full report: CAIRN INDIA

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