Strong Q3 results fuel Great Offshore rally

DALAL STREET SPIKES

Great Offshore rose 8.81 per cent to Rs 874.60 on BSE after registering a 46.6 per cent rise in net profit to Rs 55.04 crore in third quarter ended December 2007 compared with the year-ago period.

The current market price discounts its Q2 September 2007 annualised EPS of Rs 57.75 by a PE multiple of about 15.

Great Offshore's sales rose 30.8 per cent to Rs 193.99 crore in the December quarter on a y-o-y basis. Great Offshore is an integrated offshore oilfield services provider offering services to upstream oil and gas producers.