Confidence Petroleum India reports consolidated net loss of Rs 5.88 crore in Q4

Confidence Petroleum India has reported results for fourth quarter and year ended March 31, 2012.

On consolidated basis, the company has reported net loss of Rs 5.88 crore for the quarter ended March 31, 2012, against net profit of Rs 17.13 crore for the corresponding period last fiscal. Total income decreased by 72.94% at Rs 87.01 crore during the quarter under review from Rs 321.52 crore in the year-ago period.

For the full year ended March 31, 2012, the company has posted a fall of 89.02% in its net profit at Rs 6.91 crore as compared to Rs  62.91 crore in the previous year. Total income has decreased by 44.59% at Rs 639.01 crore for year under review as compared to Rs 1153.18 crore for the period ended March 31, 2011.