Global Offshore Services, the offshore operator listed on the Bombay stock exchange, has posted weaker third quarter earnings.
The shipowner, which charters offshore support vessels, netted a third quarter profit of INR 72m ($1.4m) against the higher INR 96m from the corresponding period a year ago.
The company was previously known as Garware Offshore Services.
Revenue was also down, from INR 416m to INR 322m but the company’s bottom line was somewhat cushioned by a INR 53m fall in expenditure over the period.