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Assam govt inks MoU with Oil India for road up gradation

12 Sep 2012 Evaluate

State run explorer, Oil India and Assam government inked a Memorandum of Understanding (MoU) for up gradation of a road between Duliajan Railway Gate to Tipling Tinali Road. The road, which will cover a length of 4.60 kilometres, will require an investment of Rs 24.32 crore for its development.

Meanwhile, the up gradation work of the road will be executed by Assam Public Works Department within a stipulated timeframe of 18 months from the date of issuance of formal work order for which the tender has already been floated.

The company’s net profit for the fourth quarter ended March 31, 2012 fell by 20.94% to Rs 444.81 crore as compared to Rs 562.61 crore for the quarter ended March 31, 2011. The total income has decreased by 5.24% to Rs 2141.00 crore for the quarter under review from Rs 2259.30 crore for the corresponding quarter of the previous year.

For the year ended March 31, 2012, the company’s net profit jumped 19.36% to Rs 3446.92 crore as compared to Rs 2887.73 crore for the previous year. The company’s total income has increased by 22.99% to Rs 11308.60 crore for the year from Rs 9194.49 crore in the previous year.

Oil India Share Price

470.10 7.80 (1.69%)
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Peers
Company Name CMP
ONGC 283.95
Oil India 470.10
Jindal Drilling&Inds 540.15
Deep Industries 476.90
Asian Energy Service 306.05
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