Aban Offshore, India's largest offshore drilling and oil field services provider, has registered a decline of 10.34 per cent in its consolidated net profit.

The company posted consolidated net profit of Rs 110.8 crore for the first quarter ended June 30, 2009, compared to Rs 123.70 crore in the same period last year.

However its total income has also increased to Rs 803.4 crore in the latest quarter, as against Rs 770.2 crore in the same period in the previous fiscal.

On the standalone basis, the company has posted a growth of 11.04 per cent in its net profit of Rs 79.49 crore for the quarter under review, against net profit of same period in the previous fiscal.

Total income has increased to Rs 344.2 crore in the quarter ended June, against Rs 271.4 crore in the same quarter previous fiscal.

In a separate announcement, the company has informed that its board of directors has approved to raise $400 million by issue of Foreign Currency Convertible Bond
(FCCB), American Depositary Receipt (ADR) and Global Depositary Receipt (GDR) from international market.