Total Income of Rs 48 crs with the Company turning positive again with Rs 1.2 crs profit

Quarterly – Consolidated Financial Performance Snapshot

Particulars	Q2 – FY24	Q1 – FY24	Q2 – FY23
Total Income	Rs 48 crs	Rs 49 crs	Rs 26 crs
EBIDTA	Rs 5 crs	Rs 1 crs	(Rs 7 crs)
Net Profit / (Loss)	Rs 1.2 crs	(Rs 3 crs)	(Rs 19 crs)

Half Yearly – Consolidated Financial Performance Snapshot

Particulars	H1 – FY24	H1 – FY23
Total Income	Rs 96 crs	Rs 54 crs
EBIDTA	Rs 6 crs	(Rs 12 crs)
Net Profit / (Loss)	(Rs 2 crs)	(Rs 27 crs)

MUMBAI, NOVEMBER 6th, 2023 (GPN): Asian Energy Services Limited, headquartered in Mumbai, specializing in servicing the energy and mineral sector has announced its results for the second quarter of FY24. Mr Kapil Garg, MD, Asian Energy Services Limited (AESL), announced the Q2FY24 Financial Result. The company has recorded Consolidated Revenues of Rs. 48 crs for Q2-FY24 as against Rs. 26 crs for Q2-FY23. The Consolidated EBIDTA for the quarter stands at Rs. 5 crs for Q2-FY24 as against negative EBIDTA Rs. 7 crs for Q2-FY23. 

In Q2-FY24, Company has posted net profit. Revenue in H1-FY24 has seen contributions from all business verticals along with Indrora Oilfield. 

The company’s current order book from third parties’ contracts stands approx. Rs 900 crs which is well diversified among various business segments and clients. The company currently has 3 contracts of Material Handling services, 3 contracts of O&M services and 4 contracts of Seismic services. Besides, Company has a 50% Participating Interest in producing oil & gas field Indrora at Gandhinagar, Gujarat.

About Asian Energy Services Limited: (BSE: 530355 | NSE: ASIANENE):

Asian Energy Services Limited (AESL) offers end-to-end services which extend across the entire upstream value chain. AESL’s service offerings including 2D and 3D Seismic Geophysical Data Acquisition, Integrated Supply and Installation of Coal Handling Plants and Rapid Loading Systems, as well as the Supply, Commissioning, and integrated Operations and Maintenance (O&M) of Onshore and Offshore Oil and Gas Production Facilities. Since its acquisition by OEPL, AESL has diversified its business verticals to capture more value across the energy and upstream oil and gas value chains, for long term value creation for its investors and shareholders.