The stock has posted a weekly gain of 40 per cent from Rs 72.95 to Rs 102.01 after the company announced about securing a firm contract for three years from Oil & Natural Gas Corporation (ONGC) for its newly-built platform supply vessel.
The stock has appreciated 85 per cent from Rs 55.10 on the Bombay Stock Exchange, since the company had taken the delivery of the said vessel on March 9. The company operates a fleet of anchor handling tugs-cum-supply vessels and platform supply vessels, and expects Rs 35 crore annual revenue from this contract.
The company has paid six per cent interim dividend for FY09. Its board of directors will meet on April 29 to consider the second interim dividend as well as the un-audited financial results for the fourth quarter ended March 2009.
For the first nine-months ended December 2008, the company reported a single digit growth in net profit to Rs 34.64 crore (Rs 33.85 crore), while total income from operations has increased by 85 per cent to Rs 117.80 crore (Rs 63.61 crore).
