Cairn India reported a quarterly loss of Rs.10,948 crore for the March quarter, primarily led by impairment loss on goodwill and non-producing oil and gas assets due to a drop in oil prices.
Tag: Mayank Ashar
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Cairn India Limited results for Q2FY16 ended 30th Sep, 2015
Net revenue for Q2FY16 was reported at Rs.2,242 crore, which declined 15 per cent QoQ mainly due to fall in crude prices and increase in discount to Brent for Rajasthan crude. Average Brent prices fell 18 per cent QoQ to $50.5 per barrel driving our average oil realization down by 22 per cent QoQ to $43.7/bbl.