KUALA LUMPUR (May 19): Taliworks Corp Bhd (KL:TALIWRK) on Monday reported a 30% year-on-year decline in its net profit for the first quarter of 2025, despite a 13% increase in revenue.

The net profit for the three months ended March 31, 2025 (1QFY2025) was RM10.51 million versus RM15.03 million in the same quarter last year, according to the infrastructure and utilities group. Earnings per share dropped to 0.52 sen from 0.75 sen.

The lower earnings were due to a lower share of profits from its joint venture, Grand Sepadu (NK) Sdn Bhd, and a higher share of losses from its associate, SWM Environment Holdings Sdn Bhd, said Taliworks in its filing with Bursa Malaysia.

The group also reported a foreign exchange loss of RM180,000 for the quarter against a RM42,000 gain previously.

Revenue for the quarter, meanwhile, rose to RM105.27 million from RM93.33 million in 1QFY2024, thanks to higher contributions from its construction and renewable energy segments.

On a quarter-on-quarter basis, Taliworks’s net profit fell 37.7% from RM16.87 million in 4QFY2024, while revenue rose 4.1% from RM101.10 million.

The group declared a first interim dividend of 0.5 sen per share, totalling RM10.08 million, payable on June 30.

Looking ahead, Taliworks, which operates the Sungai Selangor Phase 1 water treatment plant, said it will remain focused on its core infrastructure and utility segments, particularly water treatment and toll operations, which continue to be the main earnings drivers.

“The group continues to focus on its growth strategies, prioritising investing and growing its infrastructure and utility businesses and intends to prioritise its resources for these purposes,” it said.

Shares of Taliworks closed down one sen or 1.45% at 68 sen on Monday, valuing the group at RM1.37 billion.