Cairn India's Q4FY16 results down by 16 per cent

Cairn India declared its Q4FY16 consolidated results, and the results have bitterly disappointed as the Net revenue has been down by 16 per cent and stands at Rs 1716.8 crore as compared to 2039.4 crores the previous quarter. EBITDA margin for the Q4FY16 is down by almost 0.36 times and stands at Rs 497.7 crore. For the quarter ended the firm reported a loss of Rs 10948.2 crore.

On a YoY basis the net income from operation is down by 41 per cent and has been reported at Rs 8625.5 crore as compared to the previous year, where it stood at Rs 14646.2 crore. EBITDA margin has also reported less; the EBITDA margin on a YoY basis is down by 0.6 times and stands at Rs 3364.8 crore for the current year. YoY net loss is reported at Rs 9431.8. crore.

 The loss majorly comes from the company’s Rajasthan field, where the production has severely fallen to 5 per cent. Rajasthan field accounts for the company’s 80 per cent production.  Plunge in the oil prices have been the major reason for such devastated results of Cairn India. Oil prices during the quarter end period were majorly volatile; there was also a time when the oil prices even touched $27 a barrel.The impact of the results was also seen on the market. The shares of Cairn India were trading at Rs 146.55, which is again down by 5 per cent for the day.

Cairn India Ltd. is an India based oil & gas operation company. The company operates in oil & gas operation business section. The company is engaged in the business of surveying, prospecting, drilling, exploring, acquiring, developing, producing, maintaining, refining, storing, trading, supplying, transporting and marketing.