KUALA LUMPUR (Feb 19): Dialog Group Bhd's net profit rose 16.62% to RM148.29 million for its second quarter ended Dec 31, 2023 (2QFY2024), from RM127.15 million a year earlier, on higher revenue driven by better performances from both its Malaysian and international operations.

Earnings per share increased to 2.63 sen from 2.25 sen, the oil and gas group’s bourse filing on Monday showed.

Quarterly revenue rose 7.8% to RM859.21 million from RM797 million in 2QFY2023.

Dialog said the improvement in its Malaysian operation was mainly due to higher production from upstream activities, while its international operation's better showing was attributed to activities at the Jubail Supply Base in Saudi Arabia.

“The engineering, construction, fabrication and plant maintenance activities in Singapore, Australia and New Zealand, and sales of specialist products and services in various countries also contributed positively to the group’s better performance in the current financial quarter due to the improved business environment,” the group said.

For the first six months of FY2024, net profit grew 10.88% to RM280.46 million, from RM252.94 million in the same period of FY2023, as revenue rose 8.68% to RM1.64 billion from RM1.51 billion.

Dialog said it is optimistic of ending FY2024 on a positive trajectory.

Dialog shares fell one sen or 0.53% to RM1.86 on Monday, giving the group a market capitalisation of RM10.5 billion.