Keppel Corp (KPLM.SI), the world’s largest rig-builder, on Thursday reported a better-than-expected 8.4% rise in quarterly net profit, helped by strong margins in its offshore marine business.

Keppel, more than one-fifth owned by Singapore state investor Temasek Holdings (TEM.UL), posted a net profit of $346.3 million for the quarter ended September, up from $319.6 million a year ago. 

 

The profit was ahead analysts estimates of $306.7 million.

 

Keppel’s orderbook stood at $4.1 billion, down from $5 billion in the middle of 2010.

 

Last year’s global recession slowed orders for rig makers and the industry has come under further pressure following BP’s (BP.L) oil spill, which triggered a U.S. government moratorium on deepwater drilling this year. The ban was lifted earlier this month.

 

Keppel’s shares have risen about 18% so far this year, outperforming the Singapore’s benchmark Straits Times index <.FTSTI> which is up 9%.