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Shares of Great Offshore tumbled by over 7 per cent to a one-year-low in early trade on the Bombay Stock Exchange today, hit by a 96.3 per cent dip in the company’s net profit for the quarter ended December 31, 2010.
Shares of the offshore oilfield services provider dropped by 7.63 per cent to hit a 52-week-low of Rs 276 on the BSE.
In a similar fashion, the company plunged by 7.37 per cent to an early low of Rs 276.50 on the National Stock Exchange.
The company had yesterday reported a net profit of Rs 1.83 crore for the October-December quarter, as against Rs 49.54 crore in the corresponding period of the previous year.
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