Cairn India on Thursday reported a three-fold jump in its net profit to Rs 1,585 crore in the quarter ended September 30, as completion of a pipeline led to jump in crude oil sales from its prolific Rajasthan block.
Cairn reported a net profit of Rs 1,585.08 crore in the July-September period as against Rs 469.51 crore net income in the same period a year ago, the company said in a statement here. The rise in net profit was mainly because July-September was the first full quarter when the company used the 590-km Barmer (in Rajasthan) to Salaya (in Gujarat) pipeline to sell crude oil produced from the giant Mangala oilfield to Reliance Industries, Essar Oil and Indian Oil Corp. PTI