Sapura Energy shares fall after suffering net loss in Q1

PETALING JAYA: Sapura Energy Bhd’s share price fell 2.34% this morning after it fell into the red with a net loss of RM135.73 million in the first quarter ended April 30, 2018.
At midday, the stock fell 2.34% or 1.5 sen to 62.5 sen with 56.94 million shares traded. It was the most active stock on Bursa Securities this morning. The stock closed 1.54% lower last Friday at 64 sen, with 65.13 million shares done.
Sapura Energy suffered a net loss of RM135.73 million during the quarter compared with a net profit of RM27.53 million a year ago due to lower contribution from its engineering and exploration and production (E&P) segment while its drilling recorded losses as certain rigs went off contract.
Revenue for the quarter fell 40.38% to RM1.05 billion from RM1.77 billion a year ago.