Riverstone Holdings announces earnings of RM46.7 mil, down 57% y-o-y

Riverstone Holdings (SGX:AP4) has announced earnings of RM46.7 million ($13.94 million) for 1QFY2023, a 57% y-o-y decline in net profit from RM108.7 million for the corresponding period in FY2022.

For the period ended March 31, the company recorded revenue of RM238.0 million, a 40.8% y-o-y decrease from RM402.3 million in 1QFY2022 million due to lower average selling prices.