KUALA LUMPUR (Dec 5): Sapura Energy Bhd dipped 1.85% after the group posted its third straight quarterly loss, despite revenue increasing 47.4% to RM1.78 billion in the third financial quarter ended Oct 31, 2019 (3QFY20), from RM1.21 billion a year ago.
At 3.27pm, shares of Sapura Energy fell 0.5 sen to 26.5 sen, with some 0.13 billion shares transacted.
The group saw its net loss for the three months ended Oct 31, 2019 (3QFY20) triple to RM100.89 million, from RM31.09 million in 3QFY19.
However, loss per share for the current quarter was down at 63 sen for 3QFY20, compared with 1.69 sen for 3QFY19, due to dilution pursuant to issuance of options granted under an employee stock option.
In a bourse filing today, Sapura Energy attributed the wider quarterly net loss partly to the engineering and construction (E&C) segment recording a lower pre-tax profit of RM16.1 million for 3QFY20, due to lower project margins and lower share of profit from associates and joint ventures.
Its drilling segment also recorded a higher pre-tax loss of RM48.2 million for the current quarter, mainly due to lower operating days, pending commencement of new contracts.