Aban Offshore Ltd. Announces Unaudited Consolidated and Parent Company Earnings Results for the Second Quarter Half Year Ended September 30, 2012; Announces Executive Appointments
November 01, 2012 at 06:36 pm IST
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Aban Offshore Ltd. announced unaudited consolidated and parent company earnings results for the second quarter half year ended September 30, 2012. For the quarter, the parent company reported income from operations of INR 1,948.04 million against 1,329.71 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 530.45 million against INR 125.34 million a year ago. Loss from ordinary activities before tax was INR 143.96 million against INR 713.84 million a year ago. Net loss was INR 88.97 million or INR 2.03 per diluted share after extraordinary items against net loss of INR 671.23 million or INR 15.32 per diluted share after extraordinary items a year ago.
For the half year, the parent company reported income from operations of INR 3,905.45 million against 2,985.18 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 1,437.90 million against INR 563.25 million a year ago. Loss from ordinary activities before tax was INR 167.99 million against INR 930.83 million a year ago. Net loss was INR 74.63 million or INR 1.70 per diluted share after extraordinary items against net loss of INR 887.76 million or INR 20.26 per diluted share after extraordinary items a year ago.
For the quarter, the consolidated company reported income from operations of INR 9,540.54 million against 7,625.71 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 3,659.92 million against INR 3,251.74 million a year ago. Profit from ordinary activities before tax was INR 748.01 million against INR 1,078.85 million a year ago. Net profit was INR 492.44 million or INR 11.26 per diluted share after extraordinary items against INR 792.50 million or INR 18.08 per diluted share after extraordinary items a year ago.
For the half year, the consolidated company reported income from operations of INR 18,040.08 million against 14,938.99 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 7,439.08 million against INR 6,609.00 million a year ago. Profit from ordinary activities before tax was INR 1,469.23 million against INR 2,272.32 million a year ago. Net profit was INR 1,013.77 million or INR 23.18 per diluted share after extraordinary items against INR 1,678.50 million or INR 38.30 per diluted share after extraordinary items a year ago.
The company also announced that its Board of Directors at the meeting held on November 1, 2012 approved the appointment of Mr. P. Murari as Chairman and Mr. Ashok Kumar Rout as Additional Director of the company.
Aban Offshore Limited is an India-based company. The Company is engaged in the business of providing offshore drilling and production services to companies engaged in exploration, development and production of oil and gas both in domestic and international markets. It is also engaged in the ownership and operation of wind turbines for generation of wind power in India. The Companyâs offers exploratory services, drilling services, production of hydrocarbons, and manning and management services. The Company's subsidiaries include Aban Energies Limited, Aban Holdings Pte Ltd, Aban Singapore Pte Ltd, Aban Abraham Pte Ltd, Aban 7 Pte Ltd, Aban International Norway AS, Aban Labuan Pvt Ltd, Deep Drilling Invest Pte Ltd, Deep Drilling 6 Pte Ltd, Deep Driller Mexico S de RL De CV, Caldera Petroleum (UK) Ltd, and others.
Aban Offshore Ltd. Announces Unaudited Consolidated and Parent Company Earnings Results for the Second Quarter Half Year Ended September 30, 2012; Announces Executive Appointments