ViTrox posts RM42mil profit in Q3

KUALA LUMPUR (Bernama) -- Vitrox Corp Bhd’s net profit for the third quarter ended Sept 30, 2021 (Q3 2021) rose to RM42.2 million from RM29.7 million in the same quarter last year.

Revenue increased 36% to RM168.29 million from RM123.74 million previously, attributable to strong demand for both its machine vision system (MVS) and automated board inspection (ABI) product, the Penang-based automated test equipment maker said in a filing with Bursa Malaysia today.

ViTrox said in tandem with the group’s higher revenue, the group recorded a higher profit before tax (PBT) of RM42.94 million as compared to the preceding year’s quarter of RM31.52 million, an increase of RM11.42 million or 36.2%.

On prospects, the company said the group will continue to strengthen its operational efficiencies and elevate its focus on material sourcing process, apart from making every effort to protect the safety and health of its employees in order to fulfil the delivery commitment to its customers based on the current book to bill visibility.

"With continuous new product innovation and new market expansion, the group is well-positioned to capture the robust demand in 5G, electric vehicles (EVs), computing and artificial intelligence (AI) sectors,” it said.

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