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HOEC gains after turnaround Q4 results

Capital Market 

Exploration Company rose 1.60% to Rs 85.50 at 10:25 on after the company reported net profit of Rs 9.82 crore in Q4 March 2017 as against net loss of Rs 1.83 crore in Q4 March 2016.

The result was announced after market hours yesterday, 18 April 2017.

Meanwhile, the S&P Sensex was up 11.40 points, or 0.04% to 29,330.50.

On the BSE, 2.59 lakh shares were traded in the counter so far, compared with average daily volumes of 3.55 lakh shares in the past one quarter. The stock had hit a high of Rs 88 and a low of Rs 84.50 so far during the day. The stock hit a 52-week high of Rs 89.30 on 13 April 2017. The stock hit a 52-week low of Rs 32.35 on 24 May 2016.

The stock had outperformed the market over the past one month till 18 April 2017, rising 18.35% compared with 0.68% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 25.13% as against Sensex's 7.56% rise.

The small-cap company has equity capital of Rs 130.49 crore. Face value per share is Rs 10.

Exploration Company (HOEC)'s net sales rose 37.41% to Rs 7.97 crore in Q4 March 2017 over Q4 March 2016.

HOEC's net profit surged 942.41% to Rs 36.38 crore on 11.71% decline in net sales to Rs 25.02 crore in the year ended March 2017 over the year ended March 2016.

Exploration Company (HOEC) is an oil and gas company.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 19 2017. 10:31 IST