KUALA LUMPUR (Feb 26): Inari Amertron Bhd (KL:INARI) reported a 53.5% year-on-year drop in its second-quarter net profit, as the group was hit by reduced business volumes and unfavourable foreign exchange (forex) movements.

Net profit for the quarter ended fell to RM41.87 million from RM89.98 million a year earlier, while revenue slipped 12.1% to RM306.81 million from RM348.97 million on weaker loading volumes.

During the quarter, the group recorded realised forex losses of RM1.73 million and unrealised losses of RM16.86 million, compared with gains of RM269,000 and RM28.15 million respectively in the same period last year, a bourse filing showed.

The board halved the dividend payout to a sen per share — from two sen previously — bringing year-to-date payout to 2.33 sen versus three sen a year ago. Shareholders on the register as of March 18 will be entitled to the payout.

For the first half of FY2026, net profit declined 18.2% to RM93.37 million from RM114.09 million in 1H2025, while revenue fell 14.2% to RM632.58 million from RM736.98 million.

Looking ahead, management expects mixed results for the remainder of FY2026, citing uneven performance across semiconductor segments, risks from parts shortages, rising gold and raw material prices, and a weaker US dollar.

The group also said it is prioritising new partnerships and realigning existing ones to strengthen market positioning and diversify revenue streams.

Shares in Inari closed one sen or 0.7% higher at RM1.51 on Thursday, valuing the group at RM5.75 billion. The stock has tumbled by over 30% over the past one year.