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AKITA Drilling Ltd. (TSX: AKT.A) Reports Q1 2025 Net Income of $8.6 Million
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Highlights
AKITA Drilling Ltd. (TSX: AKT.A) released its financial results for the first quarter ended March 31, 2025, reporting net income of $8.6 million—more than triple the $2.6 million recorded in the same quarter of 2024. The company attributes this improvement to continued elevated utilization rates and increased drilling activity in both its Canadian and U.S. operations.
Adjusted funds flow from operations rose to $17.0 million in Q1 2025, compared to $11.2 million in Q1 2024. Net cash from operations also increased, reaching $9.0 million despite a higher working capital requirement during the quarter.
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