National Oilwell profit rises on new equipment demand

Thu Oct 25, 2012 7:18am EDT

(Reuters) - National Oilwell Varco Inc (NOV.N), the largest U.S. oilfield equipment maker, reported a 15 percent rise in quarterly profit as the demand for new offshore drilling equipment rose.

Third-quarter net profit attributable to the company rose to $612 million, or $1.43 per share, from $532 million, or $1.25 per share, a year earlier.

Revenue increased 42 percent to $5.3 billion.

(Reporting by Swetha Gopinath in Bangalore and Braden Reddall in San Francisco; Editing by Sreejiraj Eluvangal)