Cairn India quarterly net profit jumps 46 pct to Rs 3,385.08 crore

Oct 23 2013, 21:02 IST
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Cairn India contributed USD 1 billion in royalty, sales tax and profit petroleum to Central and state governments during second quarter. Reuters Cairn India contributed USD 1 billion in royalty, sales tax and profit petroleum to Central and state governments during second quarter. Reuters
SummaryCairn India reported top quarterly profit on the back of record oil and gas production.

bit as we continue to aggressively develop our world class resource base."

The recently announced policy on the Integrated Development Plan will help the cut the lead time in bringing discoveries to production by half to 18-24 months.

The company also said it has made a formal application for an extension of the licence for Rajasthan and Ravva blocks beyond 2019.

The committee constituted by the Oil ministry to "look into the production sharing contract (PSC) extension is expected to submit its report shortly," Cairn India said.

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