Sapura Energy loss narrows
PETALING JAYA: Sapura Energy Bhd narrowed its net loss by over 88% in the third quarter ended Oct 31, led by higher top line and a net foreign exchange gain of RM56.16mil.
However, the integrated oil and gas (O&G) services provider continued its losing streak for the fifth consecutive quarter as it booked a net loss of RM31.09mil. For comparison, the group recorded a net loss of RM274.41mil in the previous year’s corresponding quarter.
Sapura Energy’s revenue in the three-month period rose by 17.36% year-on-year (y-o-y) to RM1.5bil, mainly attributable to the higher revenue contribution from the engineering and construction (E&C) as well as the exploration and production business segments.
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