Hot Pursuit     17-Feb-20
Alphageo (India) soars after winning orders from Oil India
Alphageo (India) jumped 11.35% to Rs 240.8 after the company said it received two contracts worth Rs 128.59 crore from Oil India.
Alphageo (India) on Monday said it is in receipt of notification of award (NoA) of contract from Oil India. The first order is for 3D seismic data acquisition and processing services in cluster-3 Area in Mahanadi Basin, Odisha for estimated contract value of Rs 68.24 crore. The second order is for 2D and 3D seismic data acquisition and processing services in cluster-2 area in Mahanadi Basin, Odisha for estimated contract value of Rs 60.35 crore.

On consolidated basis, Alphageo (India) reported net profit of Rs 6.91 crore in Q3 December 2019 as against net profit of Rs 9.02 crore in Q3 December 2018. Net sales declined 29.1% to Rs 65.16 crore in Q3 December 2019 over Q3 December 2018.

Alphageo (India) is engaged in undertaking seismic surveys for oil exploration companies and for seismic data acquisition.

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