KUALA LUMPUR (Jan 21): MNRB Holdings Bhd (KL:MNRB) has reported a 36.93% increase in its third quarter net profit to RM115.86 million from RM84.61 million a year earlier on the back of a RM136.7 million jump in the group’s insurance service earnings.

Revenue for the quarter ended Dec 31, 2024 (3QFY2025), rose 15.85% to RM936.68 million from RM808.55 million previously, supported by growth in the reinsurance and general takaful businesses, although this was partially offset by a reduction in the retakaful business.

MNRB did not declare any dividend for the quarter.

For the first nine months of FY2025, MNRB’s net profit rose 53.69% year-on-year to RM300.8 million from RM195.72 million while revenue grew 9.3% to RM2.85 billion from RM2.61 billion, according to the group's bourse filing.

MNRB, which provides reinsurance and operates Islamic life and general insurance businesses, maintained a cautiously optimistic outlook for its FY2025 financial performance.

“Despite external challenges and a competitive environment, the group is confident that the steadfast execution of the various identified initiatives under its business plan will result in a credible performance,” it added.

Shares of MNRB closed up one sen or 0.46% at RM2.18 on Tuesday, giving it a market capitalisation of RM1.7 billion.