Cairn India net rises 17% to Rs 2564 crore - Times of India

The author has posted comments on this articlePTI | Apr 23, 2013, 05.28AM IST NEW DELHI: Cairn India, the operator of the nation's biggest onland oilfield, on Monday reported 17% increase in net profit to Rs 2,563.6 crore on the back of higher crude oil production. The company's sales rose 19.5% to Rs 4,363.4 crore as against Rs 3,651.3 crore during the fourth quarter of 2011-12. Its gross operated production increased 19% to 205,323 barrels of oil equivalent per day (boepd). The rise was primarily due to a 32% year-on-year increase in output from the prolific Rajasthan block. Cairn posted a foreign exchange loss of Rs 2.8 crore during the fourth quarter, compared to a loss of Rs 216.9 crore during the same quarter last year. "Our focus is on exploration activities. In the next three years, we are looking to invest about Rs 5,000 crore in 450 wells in Rajasthan," CEO P Elango said. via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEjy1mUyWZ88--Eh82iv1CNiPWD1Q&url=http://timesofindia.indiatimes.com/business/india-business/Cairn-India-net-rises-17-to-Rs-2564-crore/articleshow/19687923.cms

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