Aban Offshore shares plunged as much as 4.5 per cent in the early trade on Tuesday after the company on Monday reported net loss of Rs 88.73 crore for the quarter ended December 2015 against net profit of Rs 129.99 crore in the corresponding quarter a year ago.
At 9.37 am, shares of Aban Offshore were trading 3.37 per cent down at Rs 183.75. The scrip opened at Rs 183.90 and had touched a high and low of Rs 184.90 and Rs 182.25, respectively, in trade so far. Later, the share price settled 5.18 per cent down at Rs 180.30
Net sales of the company fell 26.87 per cent year-on-year to Rs 733.60 crore during the quarter under review.
Consolidated operating profit of Aban Offshore also slid 37.80 per cent yaer-on-year to Rs 371.87 crore during October-December period. The company posted operating profit of Rs 597.88 crore in the corresponding quarter a year ago.
In the past one year, the share price of Aban Offshore tumbled 60.60 per cent to Rs 170.15 on February 1, 2016. Sensex fell 14.76 per cent during the same period.