Muda records 3Q net profit of RM1.59mil on narrowing margins

KUALA LUMPUR: Muda Holdings Bhd recorded a net profit of RM1.59mil in the third quarter ended Sept 30, 2021, which was a sharp drop from RM24.98mil posted in the previous corresponding quarter due to declining margin from higher production cost and lower output.

In a bourse filing, the group said gross margin declined to 16.1% in the current quarter from 20.6% in the previous corresponding quarter amid a deficit on the revaluation of properties, higher operating expenses and reduction of wage subsidies.