ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Web Stories
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • IPL 2023
    • Karnataka Elections 2023
    • Viral
    • Education
    • Jobs
Read in App
Business News » Companies News

GEECL net rises 57 pc in FY19 at USD 9.93 mn

GEECL had posted a net profit of USD 6.32 million in the previous fiscal, the company said in a statement.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
GEECL net rises 57 pc in FY19 at USD 9.93 mn
London-listed coal-bed methane (CBM) producer Great Eastern Energy Corp (GEECL) Tuesday reported a 57 per cent rise in FY19 net profit. Image source: geecl.com

London-listed coal-bed methane (CBM) producer Great Eastern Energy Corp (GEECL) Tuesday reported a 57 per cent rise in FY19 net profit at USD 9.93 million on the back of higher sales. GEECL had posted a net profit of USD 6.32 million in the previous fiscal, the company said in a statement here.

Sales rose 7 per cent to 11.48 million standard cubic feet per day from 10.69 mmscfd in FY18. This helped revenue soar to USD 43.64 million from USD 38.75 million.

"The revenues and sales volume continue to show good growth. We have a focused plan of further optimising production, as well as pursuing further exploration," GEECL Managing Director & CEO Prashant Modi said.

Modi further noted that "with the continued growth of the Indian economy and stable government policies, demand for hydrocarbons in India continues to grow which is evident from the rising imports".

CBM production, however, dipped 15 per cent to 16.7 mmscfd in FY19. The company further noted that it expects production to increase in the near term.

"As announced on November 29, 2018, we have started replacing the pumps and the replacement programme is expected to be completed by June 2019. With the new pumps in place the company expects production to increase by 3 mmscfd over a three-month period," the company said.

The company realised a price of USD 10.43 per million British thermal unit for the gas it produced from coal seams (CBM) as compared to a realisation of USD 10.90 per MMBtu in FY18.

GEECL had in November last year announced a USD 2 billion investment in its flagship Raniganj (South) CBM block in West Bengal.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Energy
Written By: PTI
Updated: Tue, May 14, 2019
05:05 pm
New Delhi, PTI
RELATED NEWS
Indian Energy Exchange trade volume dips over 11% to 23.1 billion units in Q2 Indian Energy Exchange trade volume dips over 11% to 23.1 billion units in Q2
Spike in oil price breaking India's back: S Jaishankar after talks with Antony Blinken Spike in oil price breaking India's back: S Jaishankar after talks with Antony Blinken
India's handling of energy-related issues quite impressive: US India's handling of energy-related issues quite impressive: US
Government sets up committee for stable gas price for power units: Oil Secretary Government sets up committee for stable gas price for power units: Oil Secretary
Cap power prices at energy exchanges: AIPEF Cap power prices at energy exchanges: AIPEF

LATEST NEWS

Jubilant Pharmova announces leadership changes; Priyavrat Bhartia takes over as MD

Stove Kraft shares plunge after Pigeon kitchen appliances maker's Q4 results; here's what's worrying investors

JAC 12th Arts, Commerce Result 2023 released at jac.jharkhand.gov.in: Check steps to download scorecard

Torrent Pharma Q4 results: Profit at Rs 287 crore, board announces 160% dividend

Campus Activewear sinks below listing price as Street worried about margin

Myntra's EORS-18 goes live on June 1, offering 20 lakh styles across over 6,000 brands

Nirjala Ekadashi May 2023: Know date, time, significance, rituals and other details

IRCTC reports over 30% rise in Q4 profit; board announces 100% dividend

After Reliance, Nayara Energy sells petrol, and diesel at Re 1 less than PSUs

Justice M S Ramachandra Rao sworn in as 28th CJ of Himachal HC

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. Indiadotcom Digital Private Limited. All Rights Reserved.
LIVE TV