Aban Offshore has soared 13% to Rs 285, extending its 6% rally in past three days on BSE, after reporting 58% year-on-year (yoy) growth in consolidated net profit at Rs 77.68 crore for the quarter ended September 30, 2013 (Q2), on back of good operational performance and higher revenues. Offshore drilling contractor had profit of Rs 49.24 crore in a year ago quarter.
The company’s consolidated net sales grew 5% to Rs 1,002 crore on yoy basis. EBITDA or operating profit margin expanded 180 basis points yoy to 53.1% during the same period.
The stock opened at Rs 254 and touched high of Rs 291 on BSE. As many as a combined 4.66 million shares have already changed hands on the counter till 1500 hours as against an average sub one million shares that were traded daily in past two weeks on BSE and NSE.
The company’s consolidated net sales grew 5% to Rs 1,002 crore on yoy basis. EBITDA or operating profit margin expanded 180 basis points yoy to 53.1% during the same period.
The stock opened at Rs 254 and touched high of Rs 291 on BSE. As many as a combined 4.66 million shares have already changed hands on the counter till 1500 hours as against an average sub one million shares that were traded daily in past two weeks on BSE and NSE.