Aban Offshore today reported a net loss of Rs 181.69 crore for the April-June quarter after its revenue halved.
Net loss of Rs 181.69 crore in April-June compared with a profit of Rs 59.2 crore in the same period a year ago, the company said in a stock exchange filing.
Turnover dropped to Rs 480.84 crore in the first quarter of current fiscal from Rs 981.64 crore in April-June 2015 as ordered dried up following slump in oil prices.
With explorers not committing fresh investment in oil and gas hunt, its revenues from the mainstay drilling business fell to Rs 476.95 crore from Rs 981.33 crore a year ago.
Disclaimer: No Business Standard Journalist was involved in creation of this content
