Hibiscus Petroleum posts higher net profit of RM154.3mil in 1Q24

Hibiscus Petroleum Bhd managing director Dr Kenneth Pereira

KUALA LUMPUR: Hibiscus Petroleum Bhd recorded a higher net profit of RM154.29 million in the first quarter ended Sept 30, 2023 for the financial year ending June 30, 2024 (1Q FY2024), from RM135.26 million in the corresponding quarter of FY2023.

In a filing with Bursa Malaysia today, the oil and gas exploration and production company said revenue also improved by 23 per cent to RM746.62 million versus RM604.76 million.