Aban Offshore shrugs off weak Q1 earnings

Aban Offshore rose 0.93% to Rs 303.80 at 14:37 IST on BSE after consolidated net profit fell 11.35% to Rs 135.35 crore on 4.46% decline in total income to Rs 989.45 crore in Q1 June 2015 over Q1 June 2014.

The Q1 result was announced during market hours today, 3 August 2015.

Meanwhile, the S&P BSE Sensex was up 91.60 points or 0.33% at 28,206.16.

On BSE, so far 6.22 lakh shares were traded in the counter as against average daily volume of 3.28 lakh shares in the past one quarter.

The stock was volatile. The stock rose as much as 4.28% at the day's high of Rs 313.90 so far during the day. The stock fell as much as 0.16% at the day's low of Rs 300.50 so far during the day. The stock had hit a 52-week high of Rs 821 on 5 August 2014. The stock had hit a 52-week low of Rs 276 on 13 July 2015.

The stock had underperformed the market over the past one month till 31 July 2015, sliding 0.87% compared with Sensex's 1.2% rise. The scrip had also underperformed the market in past one quarter, declining 23.69% as against Sensex's 4.08% rise.

The small-cap company has equity capital of Rs 11.67 crore. Face value per share is Rs 2.

Aban Offshore offers a diverse range of offshore drilling services to clients in India and abroad.

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