Aban Offshore Ltd's Q3FY25 Quarterly Results
- 12 Feb 2025
Result Summary
- Aban Offshore Ltd reported a 56.0% quarter-on-quarter (QoQ) decrease in its consolidated revenues for the quarter-ended Dec (Q3FY25). On a year-on-year (YoY) basis, it witnessed a growth of 13.0%.
- Its expenses for the quarter were up by 1.8% QoQ and down 9.3% YoY.
- The net profit increased 139.8% QoQ and decreased 15.4% YoY.
- The earnings per share (EPS) of Aban Offshore Ltd declined at 47.4 during Q3FY25.
Financial Statments for Q3FY25
Total Income | 120.36 | 273.38 | 106.47 | -56.0% | 13.0% |
Total Expenses | 390.17 | 383.43 | 430.29 | 1.8% | -9.3% |
Profit Before Tax | -269.80 | -110.04 | -323.82 | 145.2% | -16.7% |
Tax | 6.70 | 5.18 | 2.70 | 29.3% | 148.1% |
Profit After Tax | -276.55 | -115.31 | -326.79 | 139.8% | -15.4% |
Earnings Per Share | -47.40 | -19.80 | -56.00 | 139.4% | -15.4% |
Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results
Company Overview
Aban Offshore Ltd is a prominent player in the offshore drilling industry, primarily providing oil and gas exploration services. The company specializes in offering offshore drilling services to major oil companies around the world. Aban Offshore operates a fleet of rigs and has been involved in various significant exploration projects globally. Given the nature of the industry, the company is subject to fluctuations in oil prices and global economic conditions, which can impact its operations and financial performance. Recently, the company has been navigating challenges related to market demand and operational efficiency, which are critical factors in its financial outcomes.
Revenue
In the third quarter of the financial year 2025 (Q3FY25), Aban Offshore Ltd reported a total income of ₹120.36 crores. This marks a significant decrease of 56.0% compared to the previous quarter (Q2FY25), where the total income was ₹273.38 crores. However, when comparing year-over-year performance, the company saw an increase of 13.0% from the total income of ₹106.47 crores reported in the third quarter of the financial year 2024 (Q3FY24). These figures reflect the changes in the company's revenue generation over both quarterly and annual periods, indicating variations in its income streams.
Profitability
The profitability metrics for Aban Offshore Ltd in Q3FY25 show a challenging financial landscape. The company reported a loss with a Profit Before Tax (PBT) of ₹-269.80 crores, compared to a loss of ₹-110.04 crores in Q2FY25, reflecting an increase in losses by 145.2% quarter-over-quarter. Year-over-year, this represents a reduction in losses from Q3FY24, where the PBT was ₹-323.82 crores, showing a 16.7% improvement. The Profit After Tax (PAT) for Q3FY25 stood at ₹-276.55 crores, compared to ₹-115.31 crores in Q2FY25, resulting in a 139.8% increase in loss quarter-over-quarter. Year-over-year, there was a 15.4% reduction in losses from ₹-326.79 crores in Q3FY24. The Earnings Per Share (EPS) followed a similar trend, with a figure of ₹-47.40 in Q3FY25, showcasing changes in the company's profitability metrics over time.
Operating Metrics
The total expenses for Aban Offshore Ltd in Q3FY25 were ₹390.17 crores, which is a slight increase of 1.8% from ₹383.43 crores in Q2FY25. However, there was a decrease of 9.3% year-over-year from ₹430.29 crores in Q3FY24. The tax expense for Q3FY25 was ₹6.70 crores, representing a 29.3% increase from ₹5.18 crores in Q2FY25 and a substantial 148.1% increase from ₹2.70 crores in Q3FY24. These operating metrics indicate fluctuations in the company's expenditure and tax obligations, which are integral to understanding its operational efficiency and cost management strategies.