Asian Energy posts 44% rise in Q4 profit

21 May 2026 CW Team

Asian Energy Services Limited reported a 43.6 per cent year-on-year rise in adjusted net profit to Rs 606 million for the quarter ended 31st March 2026, supported by strong execution and operational efficiencies. Revenue was partially affected by supply-chain disruptions linked to the West Asia conflict and client-related delays.

During FY26, the company completed the Kuiper acquisition, expanding its international footprint, particularly in the Middle East. The Oilmax merger is scheduled for completion by September/October 2026, pending regulatory approvals. Advanced execution of the Vedanta integrated field development contract delivered significant cost savings and sets a precedent for future integrated projects.

The Indrora Block achieved production of ~100 BOPD from the NM-01 well, with a target of ~1,000 BOPD by FY27 through additional drilling and field development. The standalone order book stood at Rs 17,500 million as of 31st March 2026, excluding Kuiper, providing strong revenue visibility.

Dr Kapil Garg, Managing Director, said, ‘FY26 has been a landmark year, driven by Kuiper acquisition and the Oilmax merger. Despite supply chain risks, we secured major projects with Vedanta and MCL, and successfully developed new wells in Indrora. We enter FY27 with a healthy order book, robust balance sheet, and a strong growth pipeline.’

The board announced a dividend of Rs 12.5 per share, subject to shareholder approval. Sumit Maheshwari, Group CFO, added that standalone India services are expected to grow 30–40 per cent in FY27 with improved margins, while Kuiper aims for revenue of USD 60–65 million. The company remains net zero-debt, strengthened by Rs 920 million from warrants conversion, and continues to monitor developments in West Asia.

Infrastructure Transport

10 Jun 2026

Pathankot–Jogindernagar Rail Service Resumes After Four Years

The Pathankot–Jogindernagar rail service resumed on Tuesday, 9 June 2026, restoring a direct link between Pathankot in Punjab and Jogindernagar in Himachal Pradesh after four years. The service had been suspended following infrastructure work and rehabilitation, and the resumption marks the restoration of regular connectivity along the hill route. Railway officials said the reopening followed a phased programme of repairs and targeted maintenance across vulnerable sections of the line. Officials said the restarted services will cater to commuters, local traders and tourists who rely on rail ..

Railways Approves Rs 2.38 Billion Safety Upgrade on Jammu Katra Route

The Railway Board approved a Rs 2.38 billion (bn) safety upgrade for the Jammu Katra rail section. The allocation of Rs 2.38 bn will be deployed to strengthen safety infrastructure along the route. The decision follows a review of corridor safety needs and aligns with a wider effort to modernise key regional links. The Jammu Katra corridor serves a high volume of passenger traffic, including pilgrimage travel to the town of Katra which is a gateway to a major shrine. The project is expected to address operational risks and improve reliability for commuters and visitors. Seasonal surges in dema..

Rayagada Railway Division Begins Operations Under ECoR

The newly created Rayagada Railway Division of the East Coast Railway (ECoR) commenced operations on Monday and is led by Indian Railway Service of Electrical Engineers (IRSEE) officer Amitabh Singhal. ECoR said Singhal has been associated during his long railway career with several landmark rolling stock initiatives, including the Vande Bharat Express project, and will lead the division supported by officers and railway staff in strengthening operations, infrastructure development and service delivery across the region. The Ministry of Railways formally notified the creation of the Rayagada D..