Small cap company rose by 5% to hit its upper circuit of ₹328.10 per share from its previous close of ₹312.50 on Tuesday after the company announced its financial result for the December quarter.
According to the exchange filing, the company Asian Energy Services Ltd has announced its quarterly result for December.
Looking at their financials for the December quarter, their net revenue rose by 227% YoY from ₹29 crores to ₹95 crores, and on the QoQ basis, net revenue rose by 111% from ₹45 crores.
Also, the company reduced its net loss by 240% from a net loss of ₹10 crores to a net profit of ₹14 crores, and on the QoQ basis, net profit rose by 1300% from a net profit of ₹1 crore.
In addition, their order book includes 41% mining services and 59% oil and gas services. The company’s current order book from third-party contracts is well-balanced across business segments and clients.
The company currently has four contracts for material handling services, three for operations and maintenance, and four for seismic services. Additionally, the company owns a 50% stake in the Indrora block, a producing oilfield in Gandhinagar, Gujarat.
Asian Energy Services Ltd has a low debt-to-equity ratio of 0.10 showing that the company is almost debt free and the current ratio of 1.9.
The share price of the company rose by 164% in the last six months and 383% in the last year. For instance, if an investor invested ₹1 Lakh a year ago the current value of the investment would be ₹4.83 Lakh.
Asian Energy Services Ltd is a small-cap company with a market capitalization of ₹1,200 crores, the promoter of the company holds 61.3%, the general public holds 34.7% and the foreign institutional investor holds 4%.
Asian Energy Services Ltd is an oilfield service and reservoir imaging company that provides a variety of geophysical services, including land and well seismic services, as well as oilfield operation and maintenance.
Written by Sriram KV
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