Asian Energy Q3 Profit Rises After Kuiper Consolidation

19 Feb 2026 CW Team

Profit after tax for the quarter rose to Rs 175 mn, a gain of 117 per cent year?on?year, highlighting operating leverage and cost optimisation. Adjusted profit after tax for the nine?month period increased to Rs 257 mn, representing growth of 31 per cent compared with the prior period. For the nine months to 31 December 2025 operating revenue reached Rs 4,528 mn, an increase of 81 per cent year?on?year, while EBITDA for the period stood at Rs 493 mn, up 27 per cent.

The company reported that its standalone order book at 31 December 2025 totalled Rs 18,930 mn, providing multi?year revenue visibility across seismic services, integrated operations and maintenance, mining infrastructure, and energy services. The successful drilling of the NM?01 well to a depth of 1,650 m in the Mewad block in Gujarat and the discovery of oil were described as strengthening the firm’s upstream presence and long?term production visibility. Kuiper was said to enhance international operations and support expansion of annuity?type contracts in the Middle East and Southeast Asia.

Management indicated that a reverse merger with Oilmax Energy remains subject to stock exchange approvals and is expected to conclude in the third quarter of fiscal year 2027. The company signalled a focus on a capital?light operating model, diversified service offerings, and improved cash flow visibility to support sustainable, higher?quality growth.

Asian Energy Services Limited reported results for the quarter ended 31 December 2025, with operating revenue rising to Rs 2,354 million (mn) as a result of stronger project execution and the first full quarter of Kuiper revenue consolidation. The quarter saw a year?on?year increase in revenue of 157 per cent and a quarter?on?quarter rise of 131 per cent, reflecting higher contribution from long?term operations and maintenance contracts and momentum in mining and infrastructure services. Earnings before interest tax depreciation and amortisation (EBITDA) improved to Rs 283 mn, up 93 per cent year?on?year and 211 per cent quarter?on?quarter, supported by better execution efficiency and a favourable project mix. Profit after tax for the quarter rose to Rs 175 mn, a gain of 117 per cent year?on?year, highlighting operating leverage and cost optimisation. Adjusted profit after tax for the nine?month period increased to Rs 257 mn, representing growth of 31 per cent compared with the prior period. For the nine months to 31 December 2025 operating revenue reached Rs 4,528 mn, an increase of 81 per cent year?on?year, while EBITDA for the period stood at Rs 493 mn, up 27 per cent. The company reported that its standalone order book at 31 December 2025 totalled Rs 18,930 mn, providing multi?year revenue visibility across seismic services, integrated operations and maintenance, mining infrastructure, and energy services. The successful drilling of the NM?01 well to a depth of 1,650 m in the Mewad block in Gujarat and the discovery of oil were described as strengthening the firm’s upstream presence and long?term production visibility. Kuiper was said to enhance international operations and support expansion of annuity?type contracts in the Middle East and Southeast Asia. Management indicated that a reverse merger with Oilmax Energy remains subject to stock exchange approvals and is expected to conclude in the third quarter of fiscal year 2027. The company signalled a focus on a capital?light operating model, diversified service offerings, and improved cash flow visibility to support sustainable, higher?quality growth.

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