Integrated oilfield services provider Great Offshore today said its net profit dipped by 33% to Rs 47.7 crore for the fourth quarter ended March 31, due various factors, including non utilisation of the marine construction assets and reduction in project income.
The company had a net profit of Rs 71.4 crore over the same period a year back, the company said in a statement.
Total income of Great Offshore also came down by 22% to Rs 216 crore in the January-March quarter over Rs 278 crore for the same period in 2009-10, the statement added.
"During the year 2010-11, there has been around 17% decline in operating income... During the year under review, revenues when compared to FY10 witnessed a dip due to slide in project revenue income and subdued operations of Kedarnath and Badrinath during Q3 of 2010-11," it said.