05:19 PM EDT, 06/11/2024 (MT Newswires) -- Major Drilling Group International ( MJDLF ) , on Thursday its fiscal fourth-quarter profit fell 52% on weaker revenue.

The company, which provides drilling services to the mining industry, said it earning $9.9 million, or $0.12 per share, in the quarter ended April 30, down from $20.8 million, or $0.25, in the year-prior quarter.

Revenue fell 9% to $168 million from C$185 million.

"As expected, the fourth quarter saw a slow start in North America due to delayed mobilizations and reduced junior and intermediate funding. This was partly offset by increased activity from areas more exposed to copper like Chile, Mongolia and Brazil, which we expect to continue to grow," chief executive Denis Larocque said in a release.

The company's shares closed down $0.30 to $9.45 on the Toronto Stock Exchange.