Jindal Drilling Q3 net up 48.5 pct

Offshore drilling services provider Jindal Drilling and Industries reported a 48.5 per cent rise in net profit to Rs 23.72 crore for the third quarter of FY8217;11.

The company recorded a net profit of Rs 15.97 crore in the October-December quarter last fiscal,it said in a statement to the Bombay Stock Exchange BSE.

Net sales of the company,however,dipped to Rs 265 crore from Rs 278.97 crore in the third quarter of the previous fiscal.

Jindal Drilling8217;s scrip was trading at Rs 445 per share at 1320 hours on the BSE on Monday,up 0.71 per cent from the previous day8217;s close.