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Asian Energy Services Ltd. (BSE: 530355 | NSE: ASIANENE ), headquartered in Mumbai, specializing in servicing the energy and mining sector, has announced its results for the third quarter of FY24. The company recorded Consolidated Revenue of INR 95.4 CR for Q3-FY24 as against INR 29.6 CR for Q3-FY23. The Consolidated EBIDTA for the quarter stands at INR 16.1 CR for Q3-FY24 as against negative EBIDTA INR 1.9 CR for Q3-FY23.

The company’s current order book from third party contracts is well diversified among various business segments and clients. The company currently has 4 contracts of material handling services, 3 contracts of O&M services and 4 contracts of seismic services. Additionally, the company has a 50% Participating Interest in Indrora block, a producing oilfield located in Gandhinagar, Gujarat.

Commenting on the results, Mr. Kapil Garg, Managing Director, Asian Energy Service said, “This quarter we have witnessed an impressive performance in our operations. The company has not only delivered its best operating and ?nancial performance in the last 7-8 quarters but has also secured new contracts to bolster the order book for the coming quarters and years. The seamless execution of current orders has paved the way for further opportunities for AESL. We expect our margins to improve further going forward, with robust and e?cient execution of orders in hand and better operating leverage.

AESL is well-positioned for success going ahead. We remain committed to generating long-term value for our stakeholders and steadily working towards that goal. The new era and the ongoing push for India’s energy security and infrastructure upgradation has opened a large opportunity landscape and new business possibilities. We are pursuing these with full vigour to take AESL to new heights.”

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