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Contract driller Rowan's profit doubles on higher rates

Nov 5 (Reuters) - Contract driller Rowan Companies Plc's third-quarter profit more than doubled, helped by higher rates for its rigs and an income tax benefit.

The company's net income rose to $119.6 million, or 96 cents per share, in the quarter ended Sept. 30, from $51.9 million, or 42 cents per share, a year earlier.

Revenue rose about 22 percent to $467.7 million. (Reporting by Narottam Medhora in Bangalore; Editing by Savio D'Souza)

Published on:
November 6, 2014
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