Mumbai, July 30 -- Under the contract, the rig will be deployed for three years at an effective day rate (EDR) of Rs 45.83 lakh (Rs 45,83,215.16), equivalent to USD 47,893.99 per day.

The contract has been awarded by ONGC, a domestic entity. Jindal Drilling said neither its promoter nor the promoter group has any interest in the awarding entity, and the contract does not constitute a related-party transaction.

Jindal Drilling & Industries, part of the Dharam Pal Jindal Group (DP Jindal Group), is engaged in offshore drilling and allied services, including directional drilling and mud logging. The company's consolidated net profit declined 36.6% year on year to Rs 45.38 crore in Q4 FY26, while revenue from operations increased 7.3% to Rs...