Aban Offshore soars after Q2 outcome
The stock has rallied 8% from intra-day low on BSE after the announcement of July-September quarter earnings.
Aban Offshore has moved higher by 5% at Rs 251 on reporting a strong 58% year-on-year (yoy) jump in consolidated net profit at Rs 77.68 crore for the second quarter ended September 30, 2013(Q2). The company engaged in exploration and production business had profit of Rs 49.24 crore in a year ago quarter.
Total income from operations grew 5% at Rs 1,002 on yoy basis, while total expenditure increased 3.9% at Rs 611 crore over the previous year, Aban Offshore said in a statement.
EBITDA or operating margin improved to 53% from 50.2% during the recently concluded quarter.
The stock opened at Rs 238 and touched high of Rs 255 on BSE after announcement of Q2 results. A combined 1.46 million shares have changed hands on the counter till noon deals on BSE and NSE.
Total income from operations grew 5% at Rs 1,002 on yoy basis, while total expenditure increased 3.9% at Rs 611 crore over the previous year, Aban Offshore said in a statement.
EBITDA or operating margin improved to 53% from 50.2% during the recently concluded quarter.
The stock opened at Rs 238 and touched high of Rs 255 on BSE after announcement of Q2 results. A combined 1.46 million shares have changed hands on the counter till noon deals on BSE and NSE.
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First Published: Nov 13 2013 | 12:20 PM IST