BAuto quarterly net profit up on higher sales

“The loss contribution from Mazda Malaysia Sdn Bhd was mainly due to the significant drop in unit sales from both the domestic and export markets during the movement control order (MCO) and conditional MCO in certain states of Malaysia, as well as the regional lockdown.” (File pic Mazda CX-5)

PETALING JAYA: Bermaz Auto Bhd’s (BAuto) net profit for its second quarter ended Oct 31, rose 22% to RM24.79mil from RM20.39mil, largely due to improvement in sales volume from domestic operations.

In a filing with Bursa Malaysia, the distributor of Mazda vehicles in Malaysia said revenue in the second quarter increased to RM599.84mil from RM457.17mil from a year ago.BAuto said the improvement in sales volume for the domestic operations was mainly attributed to the positive impact from the short-term recovery plan or Penjana economic stimulus package introduced by the government in June 2020, which provided 100% sales tax exemption on completely-knocked-down vehicles and 50% sales tax exemption on completely-built-up vehicles from June 15 to Dec 31.