Cairn India slumps as Jan-March earnings disappoint

Apr 25 2014, 18:41 IST
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SummaryShares in Cairn India Ltd slump 4.5 percent as its net profit lags some analysts' estimates, especially after adjusting for other income.

Shares in Cairn India Ltd slump 4.5 percent as its net profit lags some analysts' estimates, especially after adjusting for other income.

Cairn India's January-March net profit rose 18.4 percent to 30.35 billion rupees ($497.1 million) from a year earlier, the company said in a statement after the market close on Wednesday.

The oil and gas explorer's net profit was helped by a more than fourfold jump in other income to 3.20 billion rupees from a year earlier.

Dealers also cite disappointment over the company's production outlook at its Rajasthan block.

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