Sapura Energy returns to the black with RM91.9mil net profit in 1Q

KUALA LUMPUR: Sapura Energy Bhd has returned to the black with a net profit of RM91.93mil in the first quarter ended April 30 (1Q23) from a net loss of RM97.07mil in the same quarter last year, on favourable foreign exchange gains following the strengthening of the US dollar.

The oil and gas service provider’s revenue, however, fell 39.7% to RM886.1mil against RM1.47bil a year ago.