Ezra’s net profit crashed a whopping 99% to $187,000 in Q2

It also booked a net loss of $10.9m.

Ezra Holdings reported a 99% year-on-year crash in net profit for the second quarter. The firm booked a net profit of around $187,600 (US$138,000) in Q2, dragged by continuing volatility in the oil and gas sector.

OCBC estimates that on a recurring income basis, Ezra booked a net loss of about $10.9m (US$8m) in the quarter compared to a net profit of $4.1m (US$3m) a year ago.

Ezra highlighted that the current environment is challenging and will cause volatility in its results, but is cautiously optimistic about the long-term fundamentals of the industry.

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