Hot Pursuit     18-Jun-24
Asian Energy Services gains after securing contract worth Rs 148 cr
Asian Energy Services added 2.59% to Rs 287 after the company along with its JV partner, Indwell has been awarded an order for coal evacuation system at PKOCP, Manuguru Area of Singareni Collieries Company (SCCL).
The scope of the project is to design, supply, erect & commission and trial run etc for Coal Evacuation System by Belt Conveyors at PKOCP, Manuguru Area of The Singareni Collieries company.

The time period for the completion of the project is 18 months. The cost of the project is Rs 148 crore plus 18% IGST.

Kapil Garg, managing director, Asian Energy Services, said, “We are delighted to announce that we have won another contract valued at ~Rs 148 crores in the coal segment. This marks our second order secured with SCCL, highlighting not only the confidence major players place in us but also our capability to consistently win repeat business from our clients. This achievement underscores our optimistic outlook on the abundant opportunities within the mineral sector, particularly in coal. It stands as a testament to our strategic shift from solely focusing on seismic services to embracing a more diversified approach. We are enthusiastic about the promising prospects that lie ahead in the mineral industry.”

Asian Energy Services specialises in a geophysical range of onshore seismic and drilling services, including acquisition, imaging and field evaluation and two-dimensional and three-dimensional seismic data acquisition services. The group also provides EPC and O&M services to various oil and gas production units.

The company had reported a net profit of Rs 14.57 crore in the quarter ended March 2024 as against net loss of Rs 6.55 crore during the previous quarter ended March 2023. Revenue from operations zoomed to Rs 118.73 crore in Q4 FY24 from Rs 28.69 crore in Q4 FY23.

Previous News
  Asian Energy Services reports standalone net profit of Rs 20.61 crore in the September 2021 quarter
 ( Results - Announcements 12-Nov-21   08:16 )
  Asian Oilfield Services reports standalone net profit of Rs 2.51 crore in the September 2018 quarter
 ( Results - Announcements 03-Nov-18   08:20 )
  Asian Oilfield Services reports standalone net loss of Rs 0.40 crore in the December 2017 quarter
 ( Results - Announcements 14-Feb-18   16:39 )
  Asian Energy Services receives LoI for project worth Rs 48 cr
 ( Corporate News - 14-Mar-24   16:13 )
  Asian Oilfield Services to hold AGM
 ( Corporate News - 08-Aug-19   15:36 )
  Asian Energy Services to discuss results
 ( Corporate News - 02-Nov-23   12:30 )
  Asian Oilfield Services consolidated net profit declines 68.41% in the March 2017 quarter
 ( Results - Announcements 23-May-17   16:11 )
  Asian Oilfield Services to hold AGM
 ( Corporate News - 12-Aug-15   17:14 )
  Asian Oilfield Services announces award of contract by ONGC
 ( Corporate News - 13-May-15   19:35 )
  Asian Oilfield Services provides update on binding LoI of approximately USD 57 million
 ( Corporate News - 22-Feb-17   18:42 )
  Asian Oilfield Services schedules board meeting
 ( Corporate News - 10-Sep-20   13:12 )
Other Stories
  JSW Energy PAT soars 80% YoY to Rs 522 crore in Q1 FY25
  20-Jul-24   17:15
  Yes Bank Q1 PAT climbs 47% YoY to Rs 502 crore
  20-Jul-24   16:46
  Patanjali Foods Q1 PAT soars 3-fold to Rs 263 cr
  20-Jul-24   16:08
  Nippon Life Q1 PAT surges 40% YoY to Rs 332 cr
  20-Jul-24   15:44
  HDFC Bank Q1 PAT grows 35% YoY to Rs 16,175 crore
  20-Jul-24   15:31
  Kotak Mahindra Bank Q1 PAT zooms 81% YoY to Rs 6,250 cr
  20-Jul-24   15:13
  JSW Steel Q1 PAT drops 64% YoY to Rs 867 crore
  20-Jul-24   13:39
  ICICI Lombard Q1 PAT climbs 49% YoY to Rs 580 cr
  20-Jul-24   12:14
  Oberoi Realty Q1 PAT soars 82% YoY to Rs 584 cr
  20-Jul-24   11:16
  RIL PAT slides 4% YoY to Rs 17,448 crore in Q1 FY25
  20-Jul-24   10:33
Back Top