Cairn India has reported a consolidated net profit of Rs 236.42 crore for the quarter ended December 31, 2008, as against a loss of Rs 13.91 crore during the corresponding quarter last year.
The net profit included one-time reversal of deferred tax liability amounting to Rs 123.60 crore, the company said in a statement here.
Income for the quarter stood at Rs 210.82 crore, down nearly 21 per cent from the corresponding quarter last year on lower crude realisation. The average oil price realisation was $56.4 per barrel, down from $90.2 a barrel the previous year.
The company’s shares were closed at Rs 160.80, down 6.62 per cent on the Bombay Stock Exchange today.
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