Cairn India net profit more than triples to Rs2,322 cr in September quarter

Cairn India Ltd has reported a more than three-fold increase in its net profit for fiscal second quarter ended 30 September 2012, to Rs2,322.18 crore, on the back of higher production.

Cairn India had reported a net profit of Rs763.03 crore in July-September quarter last year.

The company also announced plans to consider its maiden dividend payout on 31 October.

On sequential basis, the net profit for the July-September quarter was don 39.3 per cent from the April-June quarter due to impact of forex loss of Rs786 crore.

Against this, the company had reported a forex gain of Rs866 crore during the previous quarter. 

Revenues for the quarter surged 67.5 per cent to Rs4,443 crore, compared with the same period last year and almost unchanged from the previous quarter.