SINGAPORE - Shares of Sembcorp Marine Ltd fell as much as 5 per cent to a near four-month low after it reported a slide in its first quarter earnings.

By 0123 GMT (9:30 pm local time), shares of Sembcorp Marine, the world's second largest oil rig builder, had recouped some of its losses and were down 3.4 per cent at S$4.62 on volume of 4 million shares.

This was compared to an average full day volume of 8.5 million shares over the last five sessions.

Sembcorp Marine reported a 25 per cent drop in first quarter net profit to S$113 million on Wednesday, partly due to lower margins on the rigs it delivered compared to a year ago.