By Rakesh Sharma
NEW DELHI--Cairn India Ltd. (532792.BY) Monday reported a 40% rise in its quarterly net profit, beating analyst estimates, helped by higher crude oil output and a foreign-exchange gain.
Net profit for the April-June quarter rose to 38.26 billion rupees ($684 million) from 27.27 billion rupees in the year-earlier period. Sales rose nearly 20% to 44.40 billion rupees from 37.13 billion rupees.
Eleven analysts polled by Dow Jones Newswires expected Cairn to post a net profit of 27.51 billion rupees on sales of 43.15 billion rupees.
The Vedanta group currently holds 58.85% of the company, while U.K.-based Cairn Energy has a 18.28% stake in it.
Write to Rakesh Sharma at rakesh.sharma@dowjones.com
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(END) Dow Jones Newswires
July 23, 2012 07:34 ET (11:34 GMT)
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