KUALA LUMPUR (June 30): Shares in Aurelius Technologies Bhd were up as much as 9.68% or 21 sen on Friday (June 30) morning, after the company announced last trading day that its net profit increased 60.75% to RM8.06 million for the first quarter ended April 30, 2023 (1QFY2024), from RM5.02 million a year earlier.

At the time of writing, Aurelius had pared gains to RM2.33 a share, still up by 16 sen or 7.37% from RM2.17 at Wednesday's close, with a trading volume of 734,700 shares. The stock opened at RM2.20, its intraday low.

In a bourse filing on Wednesday, Aurelius said it saw relatively stronger gross profit margin, compared to the same quarter a year ago, mainly contributed by a composition of product mix with higher profit margins.

The company operates predominantly in electronic manufacturing services, focusing on industrial electronic products, namely communications and Internet of Things products, electronic devices, and semiconductor components.

Quarterly revenue of RM94.63 million was, however, a decrease of 6.04% from RM100.71 million for 1QFY2023.

Earnings per share stood at 2.06 sen, from 1.40 sen previously. No dividend was declared for the quarter under review.