KUALA LUMPUR (Oct 15): IT services firm Infomina Bhd (KL:INFOM) said its net profit for the first quarter ended Aug 31, 2024 (1QFY2025) grew 10.25% from a year earlier despite a drop in revenue, thanks to a higher gross profit margin.

The net profit rose to RM8.01 million from RM7.27 million, while revenue declined 17.84% year-on-year to RM46.18 million from RM56.21 million, according to the company's bourse filing.

Earnings per share increased to 1.33 sen from 1.21 sen in 1QFY2024.

The company did not declare any dividend for the quarter.  

Infomina said its quarterly revenue was dragged down by the company's design and delivery of technology infrastructure solutions segment, which reported a 63.31% fall in revenue to RM6.23 million, from RM16.98 million in 1QFY2024.

The company's technology infrastructure operations, maintenance, and support services business, however, saw a rise in quarterly revenue to RM39.95 million from RM39.22 million previously.  

Infomina said advancements in the information technology industry are expected to continue driving its growth trajectory in the mainframe, cybersecurity and artificial intelligence (AI) segment.

It has begun capitalising on these emerging opportunities by collaborating with partners via memorandums of understanding (MOUs) aimed at streamlining corporate information access for small and medium enterprises in Malaysia through SSM Search, a comprehensive digital platform newly launched by Infomina.

The company said it will also leverage its AI-powered solutions to foster enhanced data access and analysis for business and financial institutions.

“These MOUs are expected to contribute positively towards the group earnings,” it added.

Infomina’s share price closed down four sen or 2.7% at RM1.42 on Tuesday, bringing the company a market capitalisation of RM854 million.