Gross profit margin grew 4.3% due to higher margins for the power winches segment.
Increase in other income and decrease in other operating expenses were largely due to foreign exchange gain of $1.5 million as a result of the translation differences on US dollar.
On the back of this, the group registered a net profit of approximately $93,000 for the same quarter.
In a statement on Friday, the company said the industry was showing signs of gradual recovery in 2019 with an increase in customer enquiries and tender invitations. This was disrupted by the global Covid-19 pandemic and oil price volatility triggered by the price-volume war between the major oil producing countries.
Viking Offshore & Marine shares closed flat at 0.4 cents on Friday prior to the announcement.
