Hindustan Oil Exploration Company (HOEC) posted a good set of earnings in Q3 with strong revenue and margin growth. Production from Assam added to revenues and bottomline.
In an interview with CNBC-TV18, P Elango, MD of HOEC spoke about the results and his outlook for the company.
It has been a great quarter both in terms of volumes as well as in price and going forward, the outlook looks fantastic because we seek to add more volumes, he said.
Gas volumes have increased by 60 percent to 4.8 lakh mmbtu, he added.
As we ramp up the gas production from Assam, we expect from Q1 of next year, we will be producing full volume from Assam. Overall, can expect 3 times jump in volumes from Assam by next year, said Elango.
The company is also focusing on reviving its production from the offshore field in Kaveri offshore.
FY19 margin to be around 75 percent and expect FY19 revenue at around Rs 150 crore, he further mentioned.
For full interview, watch accompanying video...
