Offshore vessel service provider Global Offshore Services today announced a Q2 net profit of Rs 7.22 crore. In a statement issued here,the company said its charter earnings are Rs 32.18 crore,with a net profit of Rs 7.22 crore,on a stand alone basis. On a consolidated basis,its charter earnings touched Rs 52.93 crore,while its net profit is Rs 5.68 crore,it said. "The company's performance has been satisfactory and we are committed to growth in the near future. During the quarter,PSV MV Kailash commenced a four-year contract extension option with Petrobras,Brazil. As a result,two of the company's vessels are on contract with Petrobras now," Global Offshore Services Vice Chairman and Managing Director Aditya Garware said. On a consolidated basis,the profit is mainly because the vessel MV Beaucephalus commenced contract at the end of June 11 with Petrobras,Brazil. The full effect of this contract will be seen from this quarter of FY12 onwards,he said. "Currently,majority of the company's assets are on long term contract. The effect of this will be reflected in the ensuing quarters," he added.
