Aban Offshore net profit up by 5%

Aban Offshore Q2 result indicated a rise in its net profit to teh tune of Rs 75.16 crore.

Offshore drilling contractor Aban Offshore today reported a rise of about five per cent in its net profit to Rs 75.16 crore for the July-September quarter of this year.

The company had clocked a net profit of Rs 71.44 crore during the same period of 2009-10.

The consolidated net sales of the company jumped to Rs 828.05 crore,a growth of 17.8 per cent for the quarter ended September 30 as against Rs 702.91 crore reported during the same period last year,the company said in a filing to the Bombay Stock Exchange.

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For the first six months of this fiscal,the consolidated net loss of the company stood at Rs 88.73 crore as compared to a net profit of Rs 182.30 crore.

However,the company did not attribute any particular reason for the loss in its filing.

The net sales of the company were at 1670.52 crore,a rise of 11.63 per cent between April-September as against Rs 1496.39 crore reported during the same period last year.

Shares of the company were quoted today at Rs 841,up 0.91 per cent from the previous close.