TAS Offshore made less in the fourth quarter of 2016 on the back of squeezed revenue.
The Malaysia-listed company reported net profit of MYR 0.5m ($0.11m), compared to MYR 1.7m in the corresponding quarter of 2015.
Its quarterly revenue stood at MYR 2.9m, down from MYR 36.3m a year earlier.
But this figure was higher than the MYR 2.2m posted in the previous quarter thanks to the strengthening of US and Singaporean dollars.
TAS said in its quarterly report that it expects higher demand for offshore support vessels thanks to the latest OPEC deal that boosted the oil price.
