KUALA LUMPUR (July 30): ViTrox Corporation Bhd’s (KL:VITROX) net profit for the second quarter ended June 30, 2026 more than tripled to RM85 million from RM28.1 million a year earlier on stronger demand for AI-related technologies, supported by improved operational efficiency and tax benefits from its subsidiary.

Growth in AI accelerators and High Bandwidth Memory (HBM) boosted orders for its advanced packaging and high-precision inspection solutions. Increased manufacturing scale helped improve efficiency, while sales of higher-value products such as automotive and consumer electronics lifted margins. ViTrox Technologies Sdn Bhd, a key subsidiary, continued to benefit from income tax exemptions, supporting higher net profit.

Quarterly revenue also more than doubled year-on-year (y-o-y) to RM374.9 million from RM183 million, underpinned by strong demand for artificial intelligence (AI) infrastructure, growth in high-value markets such as automotive and consumer electronics, as well as global supply chain restructuring that strengthened customer engagement.

No dividend was declared for the quarter.

ViTrox said continued investments in AI and data centre infrastructure are expected to support a favourable business environment for the remainder of the year.

The group said it will continue to focus on advanced packaging and high-precision inspection and testing solutions to address the growing complexity of AI accelerators, HBM and advanced packaging technologies.

It also aims to develop next-generation high-resolution machine vision solutions to meet increasingly stringent quality and process-control requirements among semiconductor manufacturers.

While remaining positive on the long-term prospects of its automated inspection business, ViTrox said it will maintain prudent cost management and operational discipline to mitigate risks arising from foreign exchange volatility and geopolitical uncertainties.

For the six months ended June 30, 2026, ViTrox's net profit more than doubled to RM136.24 million from RM52.3 million a year earlier, while revenue surged 98% y-o-y to RM642 million from RM324.2 million.

ViTrox is trading at a price-to-earnings (PE) ratio of 95.2 times, the highest among its peers, according to AskEdge data. In comparison, Greatech Technology Bhd (KL:GREATEC) is trading at a lower PE ratio of 77 times.

Shares of ViTrox ended five sen or 0.6% lower at RM8 on Thursday, valuing the company at RM15.2 billion.