The shares of the Oil and Gas company specializing in the exploration, development, and production of crude oil and natural gas in India jumped upto 4 percent upon declaring Q3 results and generating profit with a 300 percent rise Quarter on Quarter (QoQ).
Price action
With a market capitalization of Rs. 2,582.05 crores on Wednesday, the shares of Hindustan Oil Exploration Company Limited jumped upto 4 percent making a high of Rs. 209.25 per share compared to its previous closing price of Rs. 195.25 per share.
What Happened
Hindustan Oil Exploration Company Limited primarily engaged in the exploration, development, and production of crude oil and natural gas in India has announced its Q3FY25 results.
Its Revenue from operations declined by 19 percent YoY from Rs. 192.74 Crores in Q3FY24 to Rs. 156.12 Crores in Q3FY25 and it rose by 56 percent QoQ from Rs. 100 Crores in Q2FY25 to Rs. 156.12 Crores in Q3FY25.
Its Net Profit declined by 7 percent YoY Rs. 46.57 Crores in Q3FY24 to Rs. 43.31 Crores in Q3FY25 and it rose by 300 percent QoQ from Rs. 10.81 Crores in Q2FY25 to Rs. 43.31 Crores in Q3FY25.
The earnings per share (EPS) for the quarter stood at Rs. 3.28, compared to Rs. 0.82 in the previous quarter and Rs. 3.52 in the same quarter last year.
Capex Plan
The company has lined up a capital program for about Rs.1,000 Cr for the next 3 years (up to FY27) to drill a substantial number of developments and exploratory wells and has planned to spend Rs. 300 Cr every year.
About the Company
Hindustan Oil Exploration Company Limited (HOEC) is an Indian oil and gas exploration and production company. It focuses on the exploration, development, and production of oil and natural gas reserves across India. HOEC operates both onshore and offshore fields, with a commitment to sustainable energy practices.
Written by Sridhar J
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