BUSINESS

Inari Amertron's Q1 net profit falls 0.6 per cent to RM106.25 mln

17/11/2022 07:39 PM

KUALA LUMPUR, Nov 17 (Bernama) -- Inari Amertron Bhd’s net profit fell by 0.6 per cent to RM106.25 million in the first quarter (Q1) ended Sept 30, 2022, from RM106.93 million in the same period last year, mainly due to lower revenue offset by a favourable movement in forex exchange.

Its revenue decreased by 12.6 per cent to RM377.0 million from RM431.12 million previously, the group said in a filing with Bursa Malaysia today.

“The lower revenue was mainly due to comparatively lower loading volume in the current quarter,” it said.

In view of the global economic uncertainties arising from inflation, conflicts and supply chain disruption due to COVID-19 lockdowns in China, Inari said it is cautious about growth in its recurring radio frequency and optoelectronics business for the financial year of 2023 (FY2023).

Meanwhile, the group is working on new opportunities coming onshore into Malaysia’s outsourced semiconductor assembly and test (OSAT) ecosystem, while bringing up its new China joint venture site in Yiwu to begin manufacturing during the second half of FY2024.

“The group also expects to continue benefitting from the strong US dollar for FY2023,” it added.

-- BERNAMA

 


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