Hindustan Oil Exploration Company Limited Announces Unaudited Standalone Earnings Results for Third Quarter and Nine Months Ended December 31, 2017
January 20, 2018 at 03:48 am EST
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Hindustan Oil Exploration Company Limited announced unaudited standalone earnings results for third quarter and nine months ended December 31, 2017. For the quarter, the company reported revenue from operations was INR 133.644 million against INR 54.944 million a year ago. Profit from ordinary activities before exceptional items & tax was INR 83.866 million against INR 41.816 million a year ago. Profit from ordinary activities before tax expenses was INR 128.733 million against INR 41.816 million a year ago. Profit for the period was INR 128.733 million against INR 41.816 million a year ago. Basic and diluted per share was INR 0.99 against INR 0.32 a year ago.
For the period, the company reported revenue from operations was INR 254.8 million against INR 170.505 million a year ago. Profit from ordinary activities before exceptional items & tax was INR 168.988 million against INR 79.126 million a year ago. Profit from ordinary activities before tax expenses was INR 213.855 million against INR 304.352 million a year ago. Profit for the period was INR 213.855 million against INR 265.594 million a year ago. Basic and diluted per share was INR 1.64 against INR 2.03 a year ago.
Hindustan Oil Exploration Company Limited is an India-based oil and gas company. The Company is engaged in the exploration, development and production of crude oil and natural gas in India, both onshore and offshore. Its asset portfolio consists of approximately 10 oil and gas blocks of discovered resources and one exploratory block. The Company's operations include Dirok, Kharsang, Umatara, Greater Dirok, B-80, PY-1, Asjol, North Balol, and Palej. The Dirok project produces approximately 50 billion cubic feet (BCF) of natural gas and approximately 1 million barrels (MMBBL) of condensate. The PY-1 field is in the offshore platform in Cauvery Basin with eight slots and four wells drilled. The Asjol Petroleum Mining License Block lies 25 km South-West of Mehsana town in Gujarat State covering area of about 15 square kilometers (km2). Its subsidiaries include Hindage Oilfield Services Limited, Geopetrol International Inc., Geopetrol Mauritius Limited and GeoEnpro Petroleum Limited.