KUALA LUMPUR (Aug 10): Pentamaster Corporation Bhd’s net profit rose 23.2% to RM23.65 million in the second quarter ended June 30,2023 (2QFY2023) from RM19.20 million a year ago, on the back of higher revenue and better product mix.

Quarterly revenue increased 16.9% to RM176.88 million from RM151.34 million in 2QFY2022, mainly contributed by the automated test equipment (ATE) and factory automation solutions (FAS) segments, the the semiconductor group said in a bourse filing on Thursday (Aug 10).

Revenue from the ATE segment went up 34.8% to RM148.6 million mainly due to its broad product solutions in the automotive industry, with the automotive segment contributing 71% to the ATE segment.

Specifically, the group’s wafer level burn-in tester for silicon carbide and its back-end assembly and test solutions for the hybrid pack power modules continued to fuel growth for the group’s automotive segment as globally, governments have been implementing strong mandates and policy support for the electric and renewable energy segments.

The FAS segment registered a 30% drop to RM30.2 million from RM43.2 million in 2Q2022 due to a longer production cycle and project timeline which normally ranges more than six months.

For the first half of the year, Pentamaster's net profit rose to RM44.93 million from RM39.60 million in the same period of FY2022, while revenue increased to RM342.18 million from RM297.36 million.

On prospects, Pentamaster said the group remains forward-looking with optimism in sustaining a steady momentum of business growth in the second half of FY2023 with its encouraging order book strength.

“Within our order book, both the automotive and medical segment continue to provide a bright spot in the group’s order flow,” the group said, adding the automotive segment will continue to take pole position as the leading revenue contributor for the coming years.

Pentamaster's shares closed up 13 sen or 2.41% at RM5.53, valuing the group at RM3.94 billion.