PETALING JAYA: Sapura Energy Bhd’s share price dropped as much as 17.5 sen or 18.1% to 79 sen, before ending the morning session 11.5 sen or 11.92% lower at 85 sen, after it reported a net loss of RM274.41 million against a net profit of RM158.06 million a year ago.
At the noon break, the stock, which was the most active counter, stood at 85 sen with 209.6 million shares changing hands. It has a market capitalisation of RM5.06 billion.
Yesterday, the group told the stock exchange that its financial performance during the third quarter was dragged down by lower contribution from the engineering and construction and drilling segments as well as lower share of profit from joint ventures.
Its revenue slumped 42.4% to RM1.28 billion from RM2.22 billion a year ago.