Velesto Energy's revenue increased by 38.8% to RM176.27mil from RM127.03mil, attributing it to improved performance in the drilling services.
KUALA LUMPUR: Velesto Energy Bhd
posted net profit of RM16.32mil in the first quarter ended March 31,2020, a contrast from the net loss of RM22.20mil a year ago, following a turnaround in the drilling services division.
The oil and gas services company said on Wednesday its revenue increased by 38.8% to RM176.27mil from RM127.03mil, attributing it to improved performance in the drilling services.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
