INARI AMERTRON'S Q2 NET PROFIT SOARS TO RM90.1 MLN
KUALA LUMPUR, Feb 24 -- Inari Amertron Bhd’s net profit for the second quarter ended Dec 31, 2020 (Q2), soared to RM90.10 million from RM37.48 million in the same quarter a year ago.
Revenue increased to RM376.83 million from RM265.44 million previously, it said in a filing with Bursa Malaysia today.
The company said the rise in revenue was primarily due to an increase in sales volume generated by its radio frequency (RF) business.
Inari Amertron is involved in the electronics manufacturing services industry and provides semiconductor packaging services such as backend wafer processing, assembly, and testing in RF products.
“The higher profit after tax was supported by further revenue growth from the RF business and the lower tax provision was partially offset against unfavourable movement in foreign exchange,” it said.
The group anticipated positive demand for fifth-generation technology standard (5G) smartphones to continue in the subsequent quarters as the pandemic has influenced consumer behaviour to shift towards higher purchases of technology devices.
As such, the group is optimistic about the earnings in the current financial year and intends to improve production capacity to tap into the strong growth momentum in 5G mobile phones.
It also plans to add automation processes to generate higher operating margins and revenue.
“The group is aware of ongoing shortages in certain sectors of the semi-conductor market and have taken steps to secure supply of raw materials ahead,” it added.
-- BERNAMA
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