Alphageo Bags ₹118.63 Crore Contracts from ONGC

Alphageo (India) Ltd has secured two major contracts worth ₹118.63 crore from the Oil and Natural Gas Corporation (ONGC) Ltd for 2D seismic data acquisition projects. These contracts are part of ONGC’s efforts to explore and evaluate oil and gas reserves in key regions of India.

Contract Details

• Sector 1, Chhattisgarh:
  The first contract, valued at ₹38.29 crore, involves 2D seismic data acquisition in Sector 1, Chhattisgarh. Alphageo is expected to complete this project by January 2026.
• Sector 3A, Krishna-Godavari Basin:
  The second contract, worth ₹80.34 crore, pertains to seismic data acquisition in Sector 3A of the Krishna-Godavari Basin. The deadline for this project is May 2026.

Company Overview

Alphageo (India) Ltd provides seismic data acquisition and processing services, primarily catering to oil and gas exploration entities. The company currently has a market capitaliSation of ₹286.35 crore.

Financial Performance

Alphageo reported a consolidated net profit of ₹1.77 crore in Q2 FY25, marking a turnaround from a net loss of ₹4.31 crore in Q2 FY24. The company’s net sales saw a year-on-year growth of 682%, reaching ₹18.69 crore in the quarter ended September 2024.

Market Reaction

Following the announcement of these contracts, Alphageo’s shares surged by over 19%, hitting an intraday high of ₹444.5 per share today, on Monday, December 16. As of 1:40 PM today, the stock was trading at ₹440, up 17.8%. Over the past month, the stock has gained 24.9%, and year-to-date, it has risen by 51.69%.

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