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Cairn gain ahead of Q2 results!!

Cairn India , a subsidiary of London-listed Vedanta Resources, will announce its second quarter (July-September) results today. Analysts feel the oil & gas explorer is likely to come out with blockbuster earnings due to crude rally, weak rupee and dollar denominated cash during September quarter. The quarter is likely to be peak earnings for next few quarters. According to a CNBC-TV18 poll, analysts expect reported net profit to increase 12 percent sequentially to Rs 3,500 crore on forex gains while adjusted net profit to increase 25.5 percent quarter-on-quarter to Rs 3,070 crore in the quarter gone by. Source: MoneyControl

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