Inari 3Q net profit rises 10% to RM90.5mil, declares 2.2 sen dividend

KUALA LUMPUR: Inari Amertron Bhd’s net profit rose 10.4% to RM90.47mil in the third quarter ended March 31 from RM81.95mil a year ago mainly due to higher revenue growth.

The chip assembly and testing firm’s revenue grew by 5.1% to RM360.34mil against RM342.93mil a year earlier as it recorded revenue growth in all business segments.

Inari has proposed the third single-tier interim dividend of 2.20 sen per ordinary share in respect of the financial year ending June 30, 2022.

The entitlement date and payment date are on June 16 and July 18 respectively.

In the first nine months to March 31, Inari posted a net profit of RM304.7mil, up 25.8% from RM242.11mil previously, while revenue expanded 13.5% to RM1.21bil from RM1.06bil a year ago.

Inari said the higher profit was mainly contributed by higher revenue, additional interest income from fund placement and favourable forex exchange rates.

Commenting on its outlook, Inari remained cautiously positive on its near-term prospects for the rest of 2022 along lines of the International Monetary Fund (IMF) and industry forecasts.

“However, the outlook is heavily clouded by the Covid lockdown situation in China and the prospects of the conflict in Ukraine expanding beyond its borders affecting both demand and further disruption of the supply chain,” it said.