Inari Amertron Q3 earnings surge with strong demand for 5G devices


KUALA LUMPUR: Inari Amertron Bhd, a maker of wireless components used in smartphones, said net profit soared 133% in the third quarter amid strong demand for 5G devices.

Net profit in three-month ended March 31 rose to RM81.94mil, or 2.47 sen a share.

Revenue jumped 41% to RM343mil, the company said in a filing with Bursa Malaysia today.

The higher revenue was primarily contributed by the group's Radio frequency (RF) business segment.

This, in turn, boosted its profits.

The company has declared an interim payout of 4 sen a share.

"The recovery in global growth, the continuing world semiconductor demand coupled with the adoption of 5G devices are all positive factors for the Group," Inari Amertron said.

"Looking ahead, the group will explore means to continue to ramp up capacity to cater to the strong demand of 5G and to be well placed for continued growth," it added.

Earlier this month, Inari Amertron has announced plans to raise up to RM1.07bil by placing out new shares to investors. Proceeds from the fund raising exercise have been earmarked for working capital, acquisitions and investment.

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