KUALA LUMPUR: Sapura Energy Bhd saw a 12.5 per cent jump in its share price after reporting a reduced net loss for the fourth quarter ended Jan 31, 2024 (4Q24).
The company's net loss decreased to RM728.44 million from RM3.26 billion in the same period a year ago.
As of 11.30am, Sapura Energy's shares climbed by 12.5 per cent or half a sen to 4.5 sen, giving it a market capitalisation of RM744.23 million.
Trading began at 0.045 sen, with the share price hitting a high of five sen and a low of four sen during the session.
Meanwhile, Sapura Energy's quarterly revenue fell 13.01 per cent to RM1.06 billion from RM1.22 billion in 4Q23.
This was due to lower revenue recognised from the engineering and construction, and drilling business segments, the company said in a filing to Bursa Malaysia yesterday.
For the full year of FY24, the company's net loss also narrowed to RM508.66 million from RM3.16 billion in FY23, while annual revenue fell 6.45 per cent to RM4.26 billion from RM4.55 billion previously.