KUALA LUMPUR: Sapura Energy Bhd

returned to a profit after five quarters of losses helped by approved commercial settlements and foreign-exchange (forex) gains following the strengthening of the US dollar.

The cash-strapped oil and gas-related support services provider posted earnings of RM91.9mil in the first quarter ended April 30 (1Q23) as compared to a net loss of RM97mil it suffered for the same period a year ago, after booking a net forex gain of RM175.91mil in the period as compared to a net forex loss of RM42.69mil it reported in the same quarter a year ago.