Alphageo jumps after securing order

Alphageo (India) surged 12.85% to Rs 223.55 after the company said it secured a Rs 184 crore contract from Vedanta for 2D and 3D seismic data acquisition services in Assam.

"Alphageo (India) is in receipt of notification of award (NoA) of contract from Vedanta for 2D and 3D seismic data acquisition services in Assam for estimated contract value of Rs 184 crore," the company said in a statement issued during trading hours today, 27 February 2020.

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

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. Net sales declined 29.1% to Rs 65.16 crore in Q3 December 2019 over Q3 December 2018.

 

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