• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

NEW DELHI: The Board of Assam Company Ltd has said that for the quarter ended June 2005, its net profit has gone up to Rs 14.91 crore against a loss of Rs 4.28 crore reported in the corresponding period of the previous year. The total income has gone up by 35 per cent to Rs 23.49 crore (Rs 17.32 crore).

The board also decided to split one equity share of Rs 10 each (face value) to 10 equity shares of Re 1 each (face value), according to a company release.

The company had recently announced the de-merger of its oil and gas business.

Assam Company has been awarded two blocks in Assam, Amguri and AN07. The company has now formed a consortium with Canoro Resources Ltd, a Canadian company with expertise in oil and gas business worldwide for the blocks.

It has also entered into contract service agreement with ONGC for development of marginal fields in Assam.

The company has been successful in exploration activities on Amguri block where commercially proven reserves have been found. The estimated in place oil reserves are in the region of 58 million barrel and free gas reserves of 95 billion cubic feet.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
FACT prunes net loss

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line