05:14 PM EDT, 03/26/2024 (MT Newswires) -- Cathedral Energy Services ( CETEF ) on Tuesday said its fourth-quarter profit fell 83% on charges, even as revenue rose.

The oilfield-services company said it earned C$1.77 million, or C$0.01 per share, in the period, down from C$10.27 million, or C$0.05, in the year-prior quarter.

Revenue rose 4.5% to C$145.42 million from C$139.15 million.

"In Canada , Cathedral ranks among the most active directional drillers in the country and outpaced the market with the highest levels of activity of any contractor at certain periods, while in the U.S. Cathedral is among the largest providers of directional services with a particular focus on the important Permian play and the Rockies," chief executive Tom Connors said in a release.

Cathedral shares closed down C$0.01 to C$0.87 on the Toronto Stock Exchange.