State-owned Engineers India Ltd today said it has bagged a consultancy service contract from Cairn Energy India Pty Ltd for its enhanced oil recovery project for Mangala oil field in the prolific Rajasthan block.
Engineers India is trading higher by 3% at Rs 245 after the state-owned company said that it has secured a project management consultancy contract from GSPL India Transco Limited (GITL), for Mallavaram-Bhopal- Bhilwara-Vijaipur Natural Gas Pipeline
Engineers India is trading higher by 3% at Rs 242 after reporting a 22% year-on-year (y-o-y) jump in net profit at Rs 147 crore for the quarter ended September 2011, as against Rs 120 crore in the year ago period.
The company, which provides design and engineering consultancy to oil and gas business, had posted a net profit of Rs 119.94 crore in the July-September quarter of previous year, EIL said in a statement here.
State-run Engineers India (EIL) may acquire equity stake in the refinery and petrochemical projects where it is likely to give engineering and construction consultancy, its Chairman and Managing Director A K Purwaha said today.
State-run Engineers India Limited today said it is mulling to bid under the ninth round of the New Exploration and Licencing Policy (NELP) of oil and gas blocks and enter city gas distribution projects.