PETALING JAYA: Hibiscus Petroleum Bhd’s net profit for the first quarter ended Sept 30 quadrupled to RM41.52mil from RM10.03mil a year earlier, thanks to the spike in global crude oil prices.

       In a filing with Bursa Malaysia yesterday, the group said its revenue for the quarter surged 70% to RM246.69mil compared with RM145.49mil previously.

       Hibiscus said that in the first quarter, it sold 757,062 barrels oil. It expects to deliver about 2.5 to 2.7 million barrels of oil in the financial year 2022 from North Sabah and Anasuria.