Aban Loyd FY04 net up 420%

BS 200 SCORECARD

Aban Loyd Chiles Offshore Ltd saw an over 420 per cent jump in its net profit to Rs 47.29 crore for the year ended March 31, 2004 compared with Rs 9.08 crore in the previous year.

During the fiscal, it posted a turnover of Rs 292.01 crore (Rs 251.57 crore). The board has recommended a dividend of 75 per cent (50 per cent).The interest was brought down to Rs 25.75 crore (Rs 36.85 crore previous year), while depreciation rose to Rs. 38.10 crore (Rs 32.92 previous year).

The provision for taxation for the year was Rs 21 crore, while the deferred tax was Rs 9.81 crore. On the paid-up equity base of Rs 7.37 crore, the proposed dividend amounts to Rs 5.53 crore against Rs 3.69 crore the previous year. The tax on dividend would amount to Rs 72 lakh against Rs 47 lakh the last year.

ONGC has offered two-year contract renewal for one of two Aban Loyd's rigs. The contracts were due to expire in November 2004. The company has submitted bids for fresh contracts from ONGC as well.