Asian Energy Services Ltd reported a consolidated revenue of INR 95.4 CR for Q3-FY24
MUMBAI, Jan 30 (The CONNECT) – Asian Energy Services Ltd reported that it has recorded consolidated revenue of INR 95.4 CR for Q3-FY24 as against INR 29.6 CR for Q3-FY23.
The Consolidated EBIDTA for the quarter stands at INR 16.1 CR for Q3-FY24 as against negative EBIDTA INR 1.9 CR for Q3-FY23.
The company’s current order book from third party contracts is well diversified among various business segments and clients. The company currently has 4 contracts of material handling services, 3 contracts of O&M services and 4 contracts of seismic services. Additionally, it has a 50% Participating Interest in Indrora block, a producing oilfield located in Gandhinagar, Gujarat.
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Highlights of the Results:
- Revenue is INR 95 Cr which is up by 222% (Y-o-Y)
- EBITDA is INR 16 Cr, which is up by 957% (Y-o-Y)
- PAT is INR 14 Cr, which is up by 232% (Y-o-Y)
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Kapil Garg, Managing Director, Asian Energy Service said, “This quarter we have witnessed an impressive performance in our operations. The company has not only delivered its best operating and financial performance in the last 7-8 quarters but has also secured new contracts to bolster the order book for the coming quarters and years. The seamless execution of current orders has paved the way for further opportunities for AESL. We expect our margins to improve further going forward, with robust and efficient execution of orders in hand and better operating leverage.
AESL is well-positioned for success going ahead. We remain committed to generating long-term value for our stakeholders and steadily working towards that goal. The new era and the ongoing push for India’s energy security and infrastructure upgradation has opened a large opportunity landscape and new business possibilities. We are pursuing these with full vigour to take AESL to new heights,” Garg added.
