You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Seamec plans to restructure biz. with unlisted holding company, HAL Offshore

Capital Market 

The board of Seamec planned to meet on Tuesday, 2 November 2021, to discuss regarding the proposal for a merger/ demerger/ reverse merger/ amalgamation/ restructuring arrangement in a bid to synergize resources with HAL Offshore (HAL).

HAL is an unlisted and holding company of Seamec. The announcement was made before market hours today, 18 October 2021.

The company reported a consolidated net profit of Rs 12.70 crore in Q1 FY22 as against a net loss of Rs 3.28 crore in Q1 FY21. Net sales during the quarter increased by 97.7% Y-o-Y (year-on-year) to Rs 72.99 crore.

Seamec is the region's leading provider of diving support vessel (DSV) based diving services. It also provides utility services and bulk carrier services.

Powered by Capital Market - Live News

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

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, October 18 2021. 11:33 IST