KUALA LUMPUR (April 29): Building materials maker Ajiya Bhd recorded its second straight quarterly loss of RM12.71 million for the first quarter ended Feb 29, 2024 (1QFY2024), versus a net profit of RM46.11 million a year ago, despite logging higher revenue.
The loss-making quarter was dragged by a loss on the disposal of other investments amounting to RM9.65 million, and a fair value loss on other investments totalling RM6 million, the group showed in a bourse filing. In contrast, it recorded a fair value gain on other investments of RM43.31 million a year before.
The group also recorded higher operating expenses of RM75.04 million, up 9.7% from RM68.39 million a year before.
Loss per share came in at 4.31 sen for 1QFY2024, against earnings per share of 16.14 sen per share for 1QFY2023. Revenue grew 9.47% to RM78.93 million from RM72.1 million.
The filing, however, provided no analysis or review of the latest earnings results, and no mention of the group's prospects going forward.
Previously, Ajiya slipped into a net loss of RM13.02 million for 4QFY2023, on the back of a revenue of RM89.64 million.
Ajiya’s share price closed down one sen or 0.6% at RM1.55 on Monday, bringing the group a market capitalisation of RM472 million.