IOI Properties posts net profit of RM59.7mil in 3Q

KUALA LUMPUR: IOI Properties Group Bhd posted a net profit of RM59.72mil in the third quarter ended March 31 (3Q22) from RM178.75mil a year ago.

The developer said excluding property development costs written down of RM111mil and net foreign currency translation gain on foreign-denominated borrowings and deposits, the group’s underlying pretax profit of RM324.6mil for the current year quarter is RM42.9mil or 15% higher than the preceding year's corresponding quarter of RM281.7mil.