We report the results from the temporal and spectral analysis of an XMM- Newton observation of Nova Centauri 1986 ( V842 Cen ) . We detect a period at 3.51 \pm 0.4 h in the EPIC data and at 4.0 \pm 0.8 h in the OM data . The X-ray spectrum is consistent with the emission from an absorbed thin thermal plasma with a temperature distribution given by an isobaric cooling flow . The maximum temperature of the cooling flow model is kT _ { max } = 43 _ { -12 } ^ { +23 } keV . Such a high temperature can be reached in a shocked region and , given the periodicity detected , most likely arises in a magnetically-channelled accretion flow characteristic of intermediate polars . The pulsed fraction of the 3.51 h modulation decreases with energy as observed in the X-ray light curves of magnetic CVs , possibly due either to occultation of the accretion column by the white dwarf body or phase–dependent to absorption . We do not find the 57 s white dwarf spin period , with a pulse amplitude of 4 mmag , reported by Woudt et al . ( 18 ) either in the Optical Monitor ( OM ) data , which are sensitive to pulse amplitudes \gtrsim 0.03 magnitudes , or the EPIC data , sensitive to pulse fractions p \gtrsim 14 \pm 2 % .