Asian Energy Services Q3 FY26 Net Profit Surges 117% to ₹17.5 Cr on Robust Operating Momentum
Asian Energy Services reported a Q3 FY26 net profit surge of 117% YoY to ₹17.5 crore. Revenue grew 157% YoY to ₹235.4 crore, and EBITDA rose 93% YoY to ₹28.3 crore. The company discovered oil in the Mewad block and has a standalone order book of ₹1,893 crore. The reverse merger with Oilmax Energy is expected in Q3FY27.
The substantial increase in revenue and profit, coupled with a significant oil discovery and a large order book, are material events that are likely to have a high impact on the company's stock performance and investor sentiment.
The company reported significant year-on-year growth in net profit, revenue, and EBITDA, along with a successful oil discovery and a strong order book, indicating positive financial performance and operational progress.
Asian Energy Services Limited announced its financial results for the quarter and nine months ended December 31, 2025. For the third quarter of fiscal year 2026, the company reported a net profit of ₹17.5 crore, marking a significant 117% year-on-year increase. This surge in profit is attributed to strong project execution, improved operational efficiency, and healthy progress across key projects.
The company's operating revenue for Q3 FY26 reached ₹235.4 crore, a substantial 157% growth compared to ₹91.7 crore in Q3 FY25 and a 131% increase from ₹102.0 crore in Q2 FY26. This growth was driven by strong execution in core services, higher contributions from long-term operations and maintenance (O&M) contracts, and steady momentum in mining and infrastructure services.
Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) for Q3 FY26 grew by 93% year-on-year to ₹28.3 crore, up from ₹14.7 crore in the same period last year, and saw a 211% quarter-on-quarter increase from ₹9.1 crore in Q2 FY26. This improvement reflects enhanced execution efficiency, a better project mix, and a rising share of annuity-led service revenue.
For the nine months ending December 31, 2025 (9MFY26), operating revenue increased by 81% year-on-year to ₹452.8 crore from ₹249.6 crore in 9MFY25. EBITDA for 9MFY26 stood at ₹49.3 crore, a 27% increase from ₹38.7 crore in 9MFY25. Adjusted Profit After Tax (PAT) for 9MFY26, after accounting for one-time acquisition costs, was ₹25.7 crore, a 31% growth from ₹19.6 crore in 9M FY25.
As of December 31, 2025, Asian Energy's standalone order book was ₹1,893 crore, providing multi-year revenue visibility across seismic services, integrated O&M, mining infrastructure, and energy services. The company also highlighted the successful drilling of the NM-01 well in the Mewad block in Gujarat, which discovered oil, thereby strengthening its upstream presence.
Dr. Kapil Garg, Managing Director of Asian Energy Services Limited, expressed confidence in delivering the guidance provided for FY26, emphasizing the company's transformation into an integrated, future-ready platform with stronger earnings visibility, a higher-quality order book, and disciplined project execution. The integration of Kuiper's international strengths is also noted to reinforce the long-term strategic direction.
The company is awaiting stock exchange approval for its reverse merger with Oilmax Energy, with the process expected to be completed in Q3FY27.
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