Cairn India FY'07 net loss at 25 cr

Written by Agencies | Mumbai, March 31: | Updated: Mar 31 2008, 17:12pm hrs
Cairn India Ltd, the Indian subsidiary of Scottish firm Cairn Energy Plc, on Monday announced a net loss of Rs 24.54 crore for the year ended December 31, 2007, as against a net loss of Rs 21.17 crore in the corresponding period in 2006.

The income of the firm rose to Rs 1,144.67 crore in the year ended December 2007, from Rs 44.96 crore in the year ago period, the company said in a communique to the Bombay Stock Exchange.

Cairn Energy incorporated Cairn India in August 2006. Hence, the figures of 2007 are not comparable with that of the 2006, the company added.

Cairn India announced a standalone net loss of Rs 78.82 crore for the year ended December 31, 2007, as against a net loss of Rs 29.22 crore in the corresponding period last year.

The standalone income of the firm rose to Rs 33.96 crore in the year ended December 2007, from Rs 5.91 crore in the year ago period.

Shares of the firm were trading at Rs 217.95, down 5.28 per cent in the early morning trade on the BSE.