Hindustan Oil Exploration Company Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2023
May 25, 2023 at 07:24 am EDT
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Hindustan Oil Exploration Company Limited reported earnings results for the fourth quarter and full year ended March 31, 2023. For the fourth quarter, the company reported sales was INR 1,933.95 million compared to INR 444.23 million a year ago. Revenue was INR 1,793.2 million compared to INR 436.27 million a year ago. Net income was INR 1,066.54 million compared to net loss of INR 272.11 million a year ago. Basic earnings per share from continuing operations was INR 8.06 compared to basic loss per share from continuing operations of INR 2.06 a year ago. Diluted earnings per share from continuing operations was INR 8.06 compared to diluted loss per share from continuing operations of INR 2.06 a year ago.
For the full year, sales was INR 5,922.03 million compared to INR 1,614 million a year ago. Revenue was INR 5,677.11 million compared to INR 1,671.89 million a year ago. Net income was INR 1,940.48 million compared to INR 199.94 million a year ago. Basic earnings per share from continuing operations was INR 14.67 compared to INR 1.51 a year ago. Diluted earnings per share from continuing operations was INR 14.67 compared to INR 1.51 a year ago.
Hindustan Oil Exploration Company Limited is an India-based oil and gas company. The Company is engaged in the exploration, development and production of crude oil and natural gas in India, both onshore and offshore. Its asset portfolio consists of approximately 10 oil and gas blocks of discovered resources and one exploratory block. The Company's operations include Dirok, Kharsang, Umatara, Greater Dirok, B-80, PY-1, Asjol, North Balol, and Palej. The Dirok project produces approximately 50 billion cubic feet (BCF) of natural gas and approximately 1 million barrels (MMBBL) of condensate. The PY-1 field is in the offshore platform in Cauvery Basin with eight slots and four wells drilled. The Asjol Petroleum Mining License Block lies 25 km South-West of Mehsana town in Gujarat State covering area of about 15 square kilometers (km2). Its subsidiaries include Hindage Oilfield Services Limited, Geopetrol International Inc., Geopetrol Mauritius Limited and GeoEnpro Petroleum Limited.
HINDUSTAN OIL EXPLORATION COMPANY LIMITED 
