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Hibiscus Petroleum Berhad First Quarter 2025 Earnings: EPS: RM0.095 (vs RM0.19 in 1Q 2024)


Published on 2024-11-24 14:56:44 - Thomas Matters, WOPRAI
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  • Revenue: RM477.4m (down 36% from 1Q 2024). Net income: RM75.6m (down 51% from 1Q 2024). Profit margin: 16% (down from 21% in 1Q 2024). The decrease in margin was driven by lower revenue. Looking ahead, revenue is expected to fall by 3.6% p.a. on average ...

Hibiscus Petroleum Berhad reported a significant financial performance for the first quarter ending September 30, 2023. The company achieved a revenue of RM628.1 million, marking a 10.1% increase from the previous quarter, primarily due to higher production volumes and an uptick in oil prices. The average realized oil price was US$82.17 per barrel, up from US$78.96 in the prior quarter. Production volumes also rose by 10.7% to 20,800 barrels of oil equivalent per day (boepd). Despite these gains, the company faced a net loss of RM10.8 million, attributed to a one-off tax expense related to the Petroleum (Income Tax) Act 1967 in Malaysia. However, EBITDA saw a 14.5% increase to RM398.3 million, reflecting robust operational performance. Hibiscus Petroleum also highlighted its commitment to sustainability, with ongoing efforts in reducing greenhouse gas emissions and enhancing operational efficiency.

Read the Full Yahoo Finance Article at [ https://sg.finance.yahoo.com/news/hibiscus-petroleum-berhad-first-quarter-015655557.html ]