Indus Gas reports stable interim results

(Sharecast News) - India-focused oil and gas group Indus Gas has reported little change in its interim results, with revenues and profits more or less flat year-on-year. The AIM-listed company said adjusted revenues totalled $26.2m in the six months to 30 September, slightly down on $27.4m reported the year before, while pre-tax profit came in at $22.6m, compared with $22.7m previously.

"The company is well positioned given the strong demand for gas in India and the positive pricing environment," said chairman Jonathan Keeling.

Through its wholly owned subsidiaries, iServices of Mauritius and Newbury of Cyprus, Indus holds an interest in an exploration and development concession in India known as Block RJ-ON/6 along with other joint venture partners.

The share price closed Thursday's session at 83p, with the. stock now nearly 70% down since the start of the year.