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Alphageo (India) hits the roof after receiving orders from ONGC

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Alphageo (India) was locked in an upper circuit limit of 10% at Rs 201.45 after the company said it received two contracts worth Rs 111.98 crore from ONGC.

The order for acquisition of 3D seismic data through outsourcing for "Bogapha Syncline" area of A&AA Basin is worth Rs 43.23 crore. Another contract is worth Rs 68.75 crore for acquisition of 3D seismic data through outsourcing for "Tichna" Area of A&AA Basin. The announcement was made during trading hours today.

The counter clocked 30,000 shares on the BSE so far compared with two-week daily average of 1313 shares.

On consolidated basis, Alphageo (India) reported net loss of Rs 23 crore in Q2 September 2019 as against net loss of Rs 7.42 crore in Q2 September 2018. Net sales declined 31.72% to Rs 4.80 crore in Q2 September 2019 over Q2 September 2018.

Alphageo (India) is engaged in undertaking seismic surveys for oil exploration companies and for seismic data acquisition.

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

First Published: Thu, January 16 2020. 14:04 IST