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Offshore oilfield services provider Great Offshore Ltd posted a 91 per cent drop in fourth quarter standalone net profit at Rs 3.65 crore from Rs 45.05 crore a year ago.
For the January to March quarter, the Mumbai-based company earned a net income of Rs 171 crore against Rs 216 crore a year ago.
For the full year ended March 31, 2012, the company incurred a consolidated net loss of Rs 37.38 crore on a total income of Rs 982.46 crore. For FY2011 the company earned a net profit of Rs 26.25 crore on total income of Rs.953.61 crore.
The shares of Great Offshore closed at Rs 79.25 on Friday, down two per cent from previous close.
>satyanarayan.iyer@thehindu.co.in
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