Bioalpha returns to the black in Q2

For the period under review, the health supplement company posted its best-ever quarterly revenue at RM29.9mil, up more than four-fold from RM6.4mil in Q2’20. (File pic shows Bioalpha's herbal park.)

PETALING JAYA: Bioalpha Holdings Bhd swung back to profitability, with a net profit of RM1.5mil for the second quarter ended June 30, 2021 (Q2’21), compared with a net loss of RM7.9mil in the corresponding quarter last year, on higher revenue.

For the period under review, the health supplement company posted its best-ever quarterly revenue at RM29.9mil, up more than four-fold from RM6.4mil in Q2’20.

Year-to-date, Bioalpha’s net profit was RM3mil against a net loss of RM13.4mil in the six months to June 2020, while revenue rose four-fold to RM54.7mil from RM12.9mil.

It pointed out that the higher revenue was mainly attributable to stronger performance from the manufacturing division following demand recovery in Malaysia and Indonesia, as well as robust contribution from China.