Alphageo (India) rose 1.41% to Rs 139.80 after the company said it received notification of award (NOA) of a contract worth Rs 76.67 crore from Oil India.
Alphageo (India) said that contract is for 2D and 3D seismic data acquisition and processing services in Oil india's OALP Areas of Mahanadi Basin, Odisha. The estimated contract value is Rs 76.67 crore. The announcement was made after trading hours yesterday, 18 March 2020.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, registering a 23.4% fall. 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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