Hindustan Oil Exploration Company (HOEC), the first Oil & Gas company in the private sector, announced a 30% growth in profit for its Q3FY17. The net profit however - the company is young, and FY17 will be its first complete financial year - is low, at Rs. 4.18 crore.
HOEC has projected that its first delivery of gas and condensate will be during the Q4FY17 quarter, once the Assam pipeline is complete. It expects monetization from gas to be immediate with the commissioning of the BCPL plant in Assam.