HOEC expects Assam block to help turnaround

Set up by HDFC founder, the company is yet to make it big

Hindustan Oil Exploration Co Ltd (HOEC) is making its latest comeback attempt with the Assam gas block, which is likely to go onstream later this month.

“We expect a bottomline of Rs 50-60 crore in the next financial year and we are targeting a topline of Rs 100 crore,” said P Elango, managing director, HOEC.  In 2015-2016, the company had a net profit of Rs 6.56 crore after posting losses in the previous two years.

Elango is confident of posting an operational profit in 2017-18 on the back of the company’s Assam block, which likely to start production in March. A full