KUALA LUMPUR (Nov 18): Perak Transit Bhd’s (KL:PTRANS) net profit grew 6.72% year-on-year to a record high in the third quarter, thanks mainly to higher fees received from terminal development services as well as rental income and revenue sharing contributions from its terminals’ tenants.

The integrated public transportation terminal (IPTT) operator’s net profit for the three months ended Sept 30, 2024 (3QFY2024) rose to RM17.71 million — up 6.72% from RM16.6 million a year ago — marginally eclipsing its previous quarterly record earnings of RM17.69 million in 2QFY2024, according to the company’s bourse filing.

Earnings per share rose to 1.61 sen from 1.5 sen in 3QFY2023.

Revenue for the quarter jumped 19.3% to RM52.08 million from RM43.65 million, on the back of the company’s IPTT and petrol station operations segments’ improved revenue. The bus operation segment saw a slight decline in topline.

The company declared a fourth interim dividend of 0.5 sen per share, with a Jan 24, 2025 ex-date, to be paid on Feb 17, 2025.

Net profit for the nine months ended Sept 30, 2024 (9MFY2024) increased 11.11% to RM53.08 million versus RM47.77 million it made in 9MFY2023. Cumulative revenue rose 8.59% to RM143.95 million from RM132.57 million a year earlier.

Looking ahead, Perak Transit expects a continued increase in footfall in its three operated IPTTs — namely Terminal Meru Raya, Kampar Putra Sentral and Bidor Sentral in Perak — as it sees passenger demand to continue growing driven by higher transportation demand.
 
Perak Transit shares ended unchanged at 72.5 sen on Monday, valuing the company at RM809.48 million.