Cairn India Sees Flat Full-Year Output as Quarterly Profit Gains
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Cairn India Ltd., operator of the nation’s biggest oil field on land, reported a 19 percent increase in fourth-quarter profit on higher production and predicted output would remain flat this financial year.
Group net income climbed to 30.4 billion rupees ($498 million) in the three months ended March 31 from 25.6 billion rupees a year earlier, the company, based in Gurgaon near New Delhi, said today in stock exchange filing. Profit beat the 29.6 billion-rupee median of 27 analyst estimates compiled by Bloomberg. Sales rose 16 percent to 50.5 billion rupees.