Sembcorp Industries' First-Quarter Profit Boosted by Energy Business

05/14/19 09:05 PM EDT

By Gaurav Raghuvanshi

SINGAPORE--Sembcorp Industries Ltd. (U96.SG) Wednesday said its first-quarter net profit rose 21% year-over-year, lifted by an improved performance from its energy business.

Net profit in the January-to-March quarter was 93 million Singapore dollars (US$67.9 million), compared with S$77 million in the same period last year, Sembcorp said in an earnings statement.

The company said its energy business profit rose 21% on-year to S$85 million, helped by better performance at its India power plants.

Group turnover fell 10% on year to S$2.48 billion, the utilities to oil drilling rigs building conglomerate said.

 

Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@wsj.com

 

(END) Dow Jones Newswires

May 14, 2019 21:05 ET (01:05 GMT)

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