Cairn India Limited Q3'14 Results - First Cut - Microsec

Cairn India Limited(CIL) announced its Q3'14 results on January 23,2014.

Cairn India Limited posted their Q3FY14 results with a Q3 topline of INR4999.98crores which increased both on QoQ & YoY basis by 7.53% & 16.89% respectively while posted a de- growth of ~14% on YoY basis in their consolidated bottomline at INR2884.04crores. Both EBITDA margins and PAT margins declined both on quarterly and yearly basis.

On 9MFY14 front the topline increased by 4.19% whereas declined in the bottomline.

The average daily gross operated production (boepd) for the Q3FY14 was 224493 against 213299 in Q2FY14 registering a growth of 5.00%. During the quarter the average realization was US$/boe 94.90 which is lower than the realization in the previous quarter.

The de-growth in the bottomline is mainly attributed due to a foreign exchange loss on the dollar deposits. EBITDA margins came under pressure because of higher exploration costs as well as for the adoption of fair value methodology of stock option valuation.

Source : Equity Bulls

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