KUALA LUMPUR (Nov 25): Taliworks Corp Bhd’s (KL:TALIWRK) net profit for the third quarter ended Sept 30, 2024 (3QFY2024) jumped 79.08% year-on-year to RM24.25 million from RM13.54 million a year ago, driven by higher revenue across all operating business segments.

Revenue for its highway toll segment was significantly boosted by the recognition of toll compensation amounting to RM55.3 million, the water treatment service provider’s bourse filing showed on Monday.

Earnings per share came in higher at 1.2 sen in 3QFY2024, up from 0.68 sen in 3QFY2023.

Quarterly revenue also rose 74.1% to RM158 million from RM90.74 million a year before, driven by better revenue contribution from its water treatment and supply, highway toll concessionaire, engineering and construction and renewable energy segments.

The group declared a third interim single-tier dividend of two sen, payable Dec 23, 2024. This brings its year-to-date dividend payout to four sen per share.

For the nine-month period (9MFY2024), the group's net profit grew by 58.5% to RM56.26 million, as cumulative revenue expanded 28.2% to RM350.3 million from RM273.3 million previously.

Looking forward, Taliworks executive director Kevin Chin Soong Jin said the group is enthusiastic to support the recently launched Water Sector Transformation 2040 agenda.

“We remain steadfast in our commitment to contributing to Malaysia’s infrastructure development. We will continue our efforts to invest in and expand our core businesses to meet the nation’s growing infrastructure needs,” Chin said in a statement.

Shares in Taliworks settled unchanged at 76 sen on Monday, giving the group a market capitalisation of RM1.53 billion.