Noble's Q1 Profit Plunges 41% in Oil Slump

Noble Corp Plc's quarterly profit plunged nearly 41 percent as the prolonged slump in oil prices pulled down rig demand and rates.

 

The net profit attributable to the rig contractor fell to $105.5 million, or 42 cents per share, in the first quarter ended March 31 from $178.4 million, or 72 cents per share, a year earlier.

 

Noble's operating revenue fell nearly 24 percent to about $612 million.


(Reporting by Manish Parashar in Bengaluru; Editing by Kirti Pandey)