KUALA LUMPUR: Velesto Energy Bhd
's bottomline contracted nearly 20% year-on-year in the second quarter of the year as revenue halved due to the completion of the i-RDC project and lower rig utilisation.
In a bourse filing, the drilling and oilfield services firm reported a net profit of RM50.44mil as compared to RM62.81ml in the year-ago quarter, which saw earnings per share dip to 0.61 sen from 0.76 sen previously.
