KUALA LUMPUR (Nov 13): SRKK AI Bhd (KL:SRKKAI) reported that its net profit grew 12% in the third quarter from the preceding three months, thanks to revenue from consulting, project implementation and product sales.
Net profit for the third quarter ended Sept 30, 2026 (3QFY2026) rose to RM2.16 million while revenue increased 13% quarter-on-quarter to RM34.24 million, an exchange filing showed. There were no year-on-year comparisons for the firm listed on the ACE Market barely four months ago.
“We are on track to close the year on a firm footing,” chief executive officer Yew Lip Sin said in a separate statement. “Our IT consulting and project implementation services continue to gain traction, while recurring income remains a key anchor.”
Recurring income accounted for nearly half of quarterly revenue, comprising cloud services, hardware and software rentals, managed services, and data analytics and business intelligence solutions.
The rest came from product sales and project works. From that, cloud services were the largest revenue contributor at RM13.65 million, or 39.9% of quarterly sales. IT hardware and software sales contributed RM9.46 million, while consulting and project implementation generated RM7.77 million.
For the first nine months, SRKK AI recorded a net profit of RM5.41 million on revenue of RM95.91 million. The group had an order book of RM29.52 million as at Oct 15.
Plans for the company moving forward include commercialisation of its proprietary artificial intelligence platform as early as 2027 through a software subscription model, which it expects to generate additional recurring income.
The suite includes tools for monitoring environmental, social and governance indicators and onboarding employees.
SRKK AI had deployed the platform internally ahead of their commercial release and was engaging potential customers, including government-linked companies, large enterprises, and small and medium enterprises.
At Friday’s midday break, SRKK AI shares were down one sen or 2.7% at 36 sen, giving the company a market capitalisation of RM102.24 million ahead of the results announcement. The stock remained 12.5% above its IPO price of 32 sen, although it was 40% below its debut opening price of 60 sen.
No dividend was declared during the quarter under review.