IOI Corp Q1 net profit comes in at RM618.5mil

Going forward, analysts warn of softer quarterly earnings for the group as crude palm oil is likely to undergo further price corrections.

PETALING JAYA: IOI Corp Bhd got off to a strong start, with a core net profit of RM618.5mil in the first quarter of the financial year 2023 (1Q23), up 4.6% quarter-on-quarter (q-o-q) and 43.3% year-on-year.

Analysts, however, generally warned of softer quarterly earnings ahead for the group as crude palm oil (CPO) is likely to undergo further price corrections.