Taliworks reported a net profit of RM15mil for the January-March 2024 period compared with RM10.1mil a year earlier.
PETALING JAYA: An increase in water supply tariff and a RM13mil government compensation led Taliworks Corp Bhd
to kick-start its financial year 2024 with a nearly 50% jump in net profit in the first quarter (1Q24).
Taliworks, which is involved in the business of water treatment and supply among others, reported a net profit of RM15mil in the January-March 2024 period as compared to RM10.1mil in the previous corresponding quarter.
This raised the 1Q24 earnings per share to 0.75 sen.
The group told shareholders yesterday that the earnings growth was mainly due to the increase in the bulk water supply rate for its water treatment and supply division from 42 sen per cubic metre to 48 sen per cubic metre on Jan 1, 2024.
The growth was also due to a higher share of results from its joint-venture company, Grand Sepadu (NK) Sdn Bhd, following a RM12.6mil compensation recognised in 1Q24.
“The improvement was also driven by cost optimisation and higher traffic in the toll highway segment, higher sundry income and lower finance costs incurred during the quarter.”
Taliworks’ 1Q24 revenue, however, was flattish at RM93.3mil on a year-on-year basis.
