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MUMBAI: Aban Offshore Ltd posted a net profit of Rs 79.49 crore for the first quarter ended June 30, 2009 as compared with Rs 71.51 crore during the same quarter ended in 2008.

Total income for the quarter ended June 30, 2009 has increased to Rs 344.26 crore from Rs 271.48 crore in the year-ago period.

The Board of Directors of the company at its meeting held today has recommended a dividend of 180% on the entire paid up equity share capital (including partly paid shares) of the Company (i.e.Rs 3.60/- per share for the fully paid shares and Rs 1.80 per share for partly paid shares), a dividend of 8% p.a., 9% p.a. and @ 9.25% (prorata) respectively on the Non-Convertible Cumulative Redeemable Preference Share Capital of the Company for the year ended March 31, 2009.

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