Aban Offshore tumbles after dismal Q3 results

Aban Offshore fell 5.07% to Rs 180.50 at 13:30 IST on BSE after the company reported consolidated net loss of Rs 88.73 crore in Q3 December 2015 as against net profit of Rs 129.99 crore in Q3 December 2014.

The result was announced after trading hours yesterday, 1 February 2016.

Meanwhile, the BSE Sensex was down 66.15 points, or 0.27%, to 24,758.68.

On BSE, so far 2.54 lakh shares were traded in the counter, compared with an average volume of 3.55 lakh shares in the past one quarter. The stock hit a high of Rs 184.90 and a low of Rs 178.70 so far during the day. The stock hit a 52-week high of Rs 519.50 on 5 March 2015. The stock hit a 52-week low of Rs 175.70 on 21 January 2016. The stock had underperformed the market over the past one month till 1 February 2016, sliding 16.05% compared with 5.11% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 15.36% as against Sensex's 6.87% fall.

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

Aban Offshore's net sales declined 26.87% to Rs 733.60 crore in Q3 December 2015 over Q3 December 2014.

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

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