Headquartered in Hyderabad, Alphageo (India) was incorporated in 1987 and is a private sector provider of seismic survey services to the rapidly growing oil exploration and production sector.
It provides the entire spectrum of seismic and related services including acquisition, processing and interpretation of seismic data. Till FY05, the company was active primarily in the 2D seismic data acquisition business. However, having acquired capabilities in 3D data acquisition over the years, the company started bidding for 3D data acquisition business as well. Alphageo acquired speculative seismic data as a venture partner with Directorate General of Hydrocarbons in Ganga Valley and Vindhyan basins.
Alphageo has recently bagged orders worth Rs 320 million. The company also has an option to accept a Rs 200 million low-margin order from Oil India. Moreover, one of the orders is from Rajasthan which should help in mitigating the seasonality pattern resulting from the closure of operations during the monsoon season in the North-East region.
Financials
The company disclosed fall of 158.32% in standalone net profit on y-o-y basis to Rs 42.08 million, while total income declined 53.29% y-o-y basis to Rs 33.38 million for the quarter ended December 2010.
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