Cairn shares slip 4%; mcap dips Rs 1,171 cr post Q4 result

Cairn India shares today fell by over 4 per cent after the company reported its biggest quarterly loss of Rs 10,948 crore for the January-March period.
The stock slipped 4.13 per cent to settle at Rs 145.15 on BSE. During the day, it plunged 5.11 per cent to Rs 143.65.
On NSE, the scrip declined by 4.35 per cent to close at Rs 145.05.
The company's market valuation fell by Rs 1,171.37 crore to Rs 27,213.63 crore.
In terms of volume, 4.46 lakh shares of the company changed hands at BSE and over 52 lakh shares were traded at NSE during the day.

"Shares of Cairn India remained under pressure after the company announced a quarterly loss of Rs 10,948 crore for Q4 FY16," said Achin Goel, Head - Wealth Management and Financial Planning, Bonanza Portfolio.

Last Friday, Cairn India had reported its biggest quarterly loss of Rs 10,948 crore in the quarter ended March 31, mainly because of impairment loss on goodwill and non-producing oil and gas assets due to drop in oil prices.
The company reported a net loss of Rs 240.82 crore in the year-ago period, it had said in a statement.
"Due to decline in crude oil prices in the international market, the Group has recorded an impairment on the carrying value of goodwill and some of its non-producing oil and gas assets aggregating to Rs 11,389.63 crore and Rs 284.17 crore respectively," it added.

Turnover of the company fell by 36 per cent to Rs 1,717 crore on lower oil prices.
In the broader market, the benchmark BSE Sensex ended at 25,678.93, down 159.21 points.