05:30 PM EST, 03/06/2025 (MT Newswires) -- Major Drilling Group International ( MJDLF ) , after trade Thursday, said its fiscal third-quarter loss and revenue rose year-over-year.

The company, which provides drilling services to the mining industry, lost $9.1 million or $0.11 per share, in the quarter ended Jan. 31, compared with a loss of $2.3 million or $0.03, a year ago. FactSet expected a per-share loss of $0.03.

Revenue for the quarter rose 21% to $160.7 million from $132.8 million a year prior. FactSet consensus stood at $152.7 million.

The company said revenue from Canada-US drilling dropped 31% to $43 million, mainly due to earlier seasonal shutdowns and fewer program extensions, along with a more competitive market. Revenue from South and Central America rose 121.5% to $75.3 million, driven by the addition of Explomin operations. Australasian and African revenue grew 15.8% to $42.4 million, driven by performance in Australia and "robust" activity in Mongolia.

"Through the third quarter, which is traditionally the weakest of our fiscal year as customers pause operations for the holiday season, the company successfully completed the acquisition of Explomin Perforaciones and subsidiaries while maintaining relatively stable revenue from existing operations," Chief Executive Denis Larocque said.

The company's shares closed down $0.29 to $7.78 on the Toronto Stock Exchange.