KUALA LUMPUR (March 26): Johor-based bus operator HI Mobility Bhd (KL:HI), which is set to debut on Bursa Malaysia on Friday, has reported a net profit of RM10.07 million for its fourth financial quarter ended Jan 31, 2025 (4QFY2025).

This is the company's first interim financial report and there are no comparative figures for the previous corresponding quarter, Hi Mobility said in a bourse filing on Wednesday.

Revenue for the quarter totalled RM75.55 million, primarily driven by its scheduled bus services segment.

"Our revenue from the scheduled bus services segment is derived from customers comprising the general paying public passengers from Malaysia and Singapore, and government bodies in Malaysia," the company said in the filing.

HI Mobility paid its first interim dividend of 2.22 sen on March 5.

For the full financial year, HI Mobility reported a net profit of RM43.76 million on revenue of RM279.82 million.

The company said its competitive advantages in the provision of cross-border and local bus services will provide it with the platform to maintain sustainable growth and create long-term shareholder value.

HI Mobility's initial public offering of 10 million public shares, offered at a price of RM1.22 each, was oversubscribed by 6.57 times.

The Main Market-bound company’s IPO involved a total of 130 million shares, comprising 95 million new shares and an offer for sale of 35 million shares.

According to the company, the IPO proceeds of RM115.9 million will be used for bus fleet expansion and electrification, expansion of electric vehicle charging infrastructure and technological enhancement.

HI Mobility will have a market capitalisation of about RM610 million upon listing on Friday.