NEW DELHI -(Dow Jones)- Cairn India Ltd. (532792.BY) Thursday posted a 60% rise in fiscal second quarter net profit at INR4.70 billion, compared with INR2.93 billion a year earlier.
Profit far exceeded the INR1 billion average of estimates in a Dow Jones Newswires poll of four analysts.
Net sales in the July-September period, however, declined 28% to INR2.30 billion from INR3.21 billion a year earlier, the Indian unit of Cairn Energy Plc. informed the National Stock Exchange.
-By Santanu Choudhury, Dow Jones Newswires; +91-11-4356-3305; santanu.choudhury@dowjones.com