MARKET TALK: Cairn India 1Q Net Profit Likely INR4.50B - Poll

27th Jul 2010 03:58

0258 GMT [Dow Jones] PREVIEW: Cairn India (532792.BY) 1Q consolidated net profit likely up nearly 10X to INR4.50 billion vs INR454.4 million in 1QFY10, while revenue likely rise more than 5X to INR10.50 billion vs INR2.05 billion, shows Dow Jones poll. Alchemy Research says firm to benefit from higher production of crude oil from its west India field; "we model an average of 45,000 barrels per day of production during the quarter. In June 2010, the Mangala (field) reached a production level of 60,000 bpd." In 4Q, Indian unit of Cairn Energy PLC (CNE.LN) posted consolidated net profit of INR2.45 billion on revenue of INR6.93 billion. Brokerage Prabhudas Lilladher expects strong crude prices to also support earnings. Results due later today; stock ends +1.2% at INR331.20 yesterday. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires July 26, 2010 22:58 ET (02:58 GMT)