Great Offshore tanks 7% to 1-year-low on poor Q3 nos

Shares of Great Offshore tumbled by over 7% to a one-year-low in early trade on the Bombay Stock Exchange on Monday, hit by a 96.3% dip in the company's net profit for the quarter ended December 31, 2010.

Shares of Great Offshore tumbled by over 7% to a one-year-low in early trade on the Bombay Stock Exchange on Monday, hit by a 96.3% dip in the company's net profit for the quarter ended December 31, 2010.

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Shares of the offshore oilfield services provider dropped by 7.63% to hit a 52-week-low of Rs 276 on the BSE.

In a similar fashion, the company plunged by 7.37% to an early low of Rs 276.50 on the National Stock Exchange.

The company had on Wednesday 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.

Meanwhile, the BSE benchmark Sensex was trading 67.53 points higher, at 18,158.15, at 0956 hours on Monday.