Sapura Energy returns to black with RM43mil net profit

[superadmin]

KUALA LUMPUR: Sapura Energy Bhd’s fortunes have turned for the better after recording a net profit of RM42.81 million in the quarter ended July 31, 2023 (Q2 FY2024) compared to a net loss of RM2.59 million in the same quarter last year.

In a filing with Bursa Malaysia, the oil and gas company said the improved Q2 FY2024 performance was mainly due to lower depreciation, a higher share of profit from joint ventures and associates, as well as favourable foreign exchange gain from the appreciation of the US dollar against the ringgit.

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