KUALA LUMPUR (Nov 29): Datasonic Group Bhd's net profit made a big leap to RM24.91 million in the second quarter ended Sept 30, 2022 (2QFY2023) from RM1.01 million in the year-ago quarter as revenue more than doubled.
Datasonic's quarterly revenue more than tripled to RM93.63 million from RM28.75 million a year earlier.
As a result, earnings per share rose to 0.87 sen from 0.04 sen in 2QFY2022, its Bursa Malaysia filing on Tuesday (Nov 29) showed. The company declared a second interim single-tier tax exempt dividend of 0.5 sen per share, of which the entitlement and payment dates will be announced in due course.
"The group's revenue of RM84.07 million in the current financial quarter was derived from the supply of smart cards, passports and personalisation services which was higher than the total of RM20.56 million earned in the corresponding quarter of the preceding financial year resulted from more demand from customers for the said materials and services," said Datasonic.
Better results in 2QFY2023 brought Datasonic back to profitability in the cumulative first half ended Sept 30, 2022 (1HFY2023) with a net profit of RM36.94 million compared with a net loss of RM4.63 million in 1HFY2022. 1HFY2023 revenue swelled to RM157.71 million from RM46.14 million.
With the reopening of international borders starting from April 1, Malaysians have gradually resumed their business and leisure activities, contributing to higher new applications and renewal of passports as well as surge in first-time applications and replacement of MyKad documents, according to Datasonic.
"With this, we envisage orders of passport and MyKad documents by the government to bounce back firmly comparable to pre- Covid-19 levels. In addition, we continue to pursue various new programmes and initiatives in support of the group's diversification of its revenue stream, particularly in the areas of digitalisation and payment support services.
"The group is cautiously optimistic that the outlook ahead is promising for Datasonic. Barring any unforeseen circumstances, the group looks forward to a better financial performance for FY2023," added Datasonic.
Shares of Datasonic climbed 6.19% or three sen to settle at 51.5 sen apiece on Tuesday, valuing it at RM1.51 billion. The counter has risen almost 20% year-to-date.