Velesto Energy Berhad reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported sales was MYR 243.07 million compared to MYR 158.49 million a year ago. Net loss was MYR 26 million compared to net income of MYR 5.43 million a year ago. Basic loss per share from continuing operations was MYR 0.0032 compared to basic earnings per share from continuing operations of MYR 0.0007 a year ago. Diluted loss per share from continuing operations was MYR 0.0032 compared to diluted earnings per share from continuing operations of MYR 0.0007 a year ago.
For the full year, sales was MYR 580.85 million compared to MYR 377.51 million a year ago. Net loss was MYR 100.4 million compared to MYR 90.82 million a year ago. Basic loss per share from continuing operations was MYR 0.0122 compared to MYR 0.0111 a year ago. Diluted loss per share from continuing operations was MYR 0.0122 compared to MYR 0.0111 a year ago.