 "Cairn India hits 52-week low on weak Q4 results")
Cairn India has dipped almost 6% at Rs 202, also its 52-week low on the NSE, in early morning trade after it reported a consolidated net loss of Rs 241 crore in the quarter ended March 2015 (Q4FY15) on account of lower crude oil prices and one-time impairment loss in Sri Lanka. The company had reported a net profit of Rs 3,035 crore in the same quarter last year.
Total revenue during the quarter also dipped 47% to Rs 2,677 crore from Rs 5,049 crore in the same period of 2013-14. The revenue was down “on account of lower crude prices and lower volumes by three per cent,” the company said in a statement.
The stock opened at Rs 202 and touched high of Rs 211 on the NSE so far. A combined 2.19 million shares changed hands on the counter.
At 0943 hours, the stock was down 2.5% at Rs 208 on the NSE.
Total revenue during the quarter also dipped 47% to Rs 2,677 crore from Rs 5,049 crore in the same period of 2013-14. The revenue was down “on account of lower crude prices and lower volumes by three per cent,” the company said in a statement.
The stock opened at Rs 202 and touched high of Rs 211 on the NSE so far. A combined 2.19 million shares changed hands on the counter.
At 0943 hours, the stock was down 2.5% at Rs 208 on the NSE.
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