Sapura Energy records RM42.81mil 2Q net profit

KUALA LUMPUR: Sapura Energy Bhd has recorded a second quarter (2Q) ended July 31, 2023, after recording a net profit of RM42.81 million, against 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 2Q Financial Year 2024 (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.