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Aug 08, 2012, 05.53 PM IST

Aban Q1 net drops 41% to Rs 52 cr on higher interest cost

India's largest private sector offshore drilling contractor Aban Offshore's net profit fell higher than expected 41% year-on-year to Rs 52 crore in the quarter ended June 2012 due to higher interest cost. Analysts had expected it in the vicinity of Rs 85 crore.

Source: Moneycontrol.com
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India's largest private sector offshore drilling contractor Aban Offshore 's net profit fell higher than expected 41% year-on-year to Rs 52 crore in the quarter ended June 2012 due to higher interest cost. Analysts had expected it in the vicinity of Rs 85 crore.


Net sales rose 16.23% to Rs 850 crore from Rs 731.3 crore during the same period, which was lower than forecast of Rs 910 crore.


Finance cost during the quarter increased 42.8% YoY to Rs 312.43 crore and total expenses went up by 18.3% to Rs 472 crore.


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