Cairn India issues financial results for the period ended 30th June, 2014

Cairn India issues financial results for the period ended 30th June, 2014

Cairn India Limited (CIL), today announced its quarterly financial results for the period ending 30th June, 2014.
Q1 FY 15 Highlights
Financial:
 Revenue of ₹ 4,483 crore (US$ 750 mn), up 10% YoY
 EBITDA of ₹ 3,120 crore (US$ 522 mn), up 3% YoY
 Profit After Tax (Excl exceptional items) of ₹ 2,720 crore (US$ 455 mn), Cash EPS of ₹ 18.17
 Generated Cash Flow From Operations of ₹ 2,834 crore (US$ 474 mn)
 High Gross capex ₹ 2,464 crore (US$ 412 mn) led by development activity in RJ
 Gross contribution of ₹ 6,267 crore (>US$ 1 bn) to the exchequer Production:
 Average daily gross operated production of 217,869 boepd (226,597 boepd including internally consumed gas) during the quarter
 Rajasthan production at 183,164 boepd, in line with FY15 guidance
 Ravva production at 23,940 boepd, 4D infill wells contributing successfully
 Cambay production at 10,765 boepd, sustaining well
Mr. Sudhir Mathur, Interim CEO, Cairn India said:
“In line with our vision to contribute to the nation’s energy security, we are confident of not only achieving the stated exploration target of 3bn barrels of hydrocarbons in-place, ahead of schedule,
but also of adding another 3 bn barrel to our un-risked prospect inventory.
With multi-Tcf potential, we expect gas to be a significant contributor in our product mix. Before end of financial year 2015, we anticipate doubling of gas production from Rajasthan.
Our two main projects of enhanced oil recovery and debottlenecking Mangala Processing Terminal are as per schedule.”
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Source:
Cairn India

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