11 Mar 2021 / 09:30 H.
PETALING JAYA: Bermaz Auto Bhd’s (BAuto) net profit for its third quarter ended Jan 31, 2021 increased 21.8% to RM33.08 million from RM27.15 million in the previous year’s corresponding quarter, largely due to the higher profit contribution from the domestic operations, which was mainly from higher unit sales.
It reported a 27.9% increase in revenue to RM597.98 million in the current quarter under review as compared to the revenue of RM467.46 million registered in the corresponding quarter of the previous year.
The improvement in sales volume for the domestic operations was mainly attributed to the positive impact from the Short-Term Recovery Plan (Penjana) economic stimulus package introduced by the government in June 2020 which provides 100% sales tax exemption on CKD vehicles and 50% sales tax exemption on CBU vehicles from June 15, 2020 to Dec 31, 2020.
(BAuto) rose in early trade Thursday after posting a 21.8% jump in net profit in the third quarter ended Jan 31.
The Mazda car distributor added 3.7%, or five sen to RM1.40, its highest in two weeks.
BAuto’s net profit rose 21.8% to RM33.08mil for the third quarter ended Jan, 2021 from RM27.15mil in the same period last year.
Revenue also grew 27.9% to RM 597.98mil from RM467.46mil previously.
The group has declared a dividend of 1.50 sen per share for the third quarter.
For the nine months to Jan 31, BAuto posted a net profit of RM67.1mil on revenue of RM1.64bil.
Bermaz Auto Bhd's net profit in its third quarter ended Jan 31, 2021 (3QFY21) rose 21.85% to RM33.08 million from RM27.15 million a year ago on higher local sales of vehicles, the company said today.
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