Velesto Energy Berhad reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was MYR 358.89 million compared to MYR 243.07 million a year ago. Net income was MYR 66.68 million compared to net loss of MYR 26 million a year ago. Basic earnings per share from continuing operations was MYR 0.81 compared to basic loss per share from continuing operations of MYR 0.32 a year ago. Diluted earnings per share from continuing operations was MYR 0.0081 compared to diluted loss per share from continuing operations of MYR 0.0032 a year ago.
For the full year, sales was MYR 1,214.69 million compared to MYR 580.85 million a year ago. Net income was MYR 99.53 million compared to net loss of MYR 100.4 million a year ago. Basic earnings per share from continuing operations was MYR 0.0121 compared to basic loss per share from continuing operations of MYR 0.0122 a year ago. Diluted earnings per share from continuing operations was MYR 0.0121 compared to diluted loss per share from continuing operations of MYR 0.0122 a year ago.