Schlumberger posts 19.8 percent fall in quarterly profit

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FILE PHOTO: The exterior of a Schlumberger Corporation building is pictured in West Houston January 16, 2015. REUTERS/Richard Carson

(Reuters) – Top oilfield services provider Schlumberger NV reported a 19.8 percent fall in quarterly profit on Thursday, hit by weak demand for its equipment and services from oil producers under pressure to rein in spending.

Schlumberger said net income fell to $421 million, or 30 cents per share, in the three months ended March 31, from $525 million, or 38 cents per share, a year earlier.

Revenue rose to $7.88 billion from $7.83 billion.

Reporting by Arathy S Nair in Bengaluru; Editing by Sriraj Kalluvila

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