PETALING JAYA: Icon Offshore Bhd’s net profit surged by almost 34 times in the third quarter ended Sept 30, driven by the drilling segment which commenced operations in April 2021 and a higher revenue from the offshore support vessel segment.

       In a filing with the stock exchange yesterday, Icon said it recorded a net profit of RM14.37mil in the latest third quarter compared with RM426,000 in the corresponding third quarter.

       Revenue, jumped by 66% year-on-year (y-o-y) to RM87.28mil from RM52.58mil in the third quarter of the previous financial year. Earnings per share was 0.53 sen. No dividend was declared for the quarter under review.

       Cumulatively, for the first nine months of financial year 2021, net profit tumbled by 35.3% y-o-y to RM17.9mil, despite a higher top line.