The group reported first-quarter net profit growth of 12.4% year-on-year to RM52.6mil.
PETALING JAYA: Velesto Energy Bhd
(VEB) maintains cautious optimism about its outlook for 2025, confident that with Naga 2, Naga 4 and Naga 6 contracted until the first quarter of 2026 (1Q26), this ensures ongoing operations and stability in rig utilisation.
Releasing its results for 1Q25 ended March 31, 2025, yesterday, the group reported a net profit growth of 12.4% year-on-year (y-o-y) to RM52.6mil, despite revenue sinking 33.6% to RM224.6mil.
