KUALA LUMPUR: Bintai Kinden Corp Bhd's net profit fell 91.4 per cent to RM44,000 in the second quarter (Q2) that ended September 30, 2022, from RM511,000 a year ago.
However, the company's revenue rose 136.6 per cent to RM40.56 million in Q2 2022 from RM17.14 million last year.
This is due to higher contributions from mechanical and electrical (M&E) projects recovering from the negative impact of the Covid-19 pandemic.
For the six months that ended September 30, 2022, Bintai Kinden's net profit fell to RM1.16 million from RM2.018 million previously, while its revenue rose 142.94 per cent to RM71.44 million compared with RM29.41 million last year.
Executive director Azri Azerai said the growth in revenue in the quarter is proof of the continuing recovery for the company.
Azri said the company is actively looking for more earnings accretive acquisitions.
"We are diversifying into providing telecommunication services to healthcare centres through a strategic venture under our indirect subsidiary, Johnson Medical International Sdn Bhd (JMI), that we announced earlier in November.
"We are also leveraging JMI's healthcare solutions and medical support systems expertise to explore the Middle East, which is a growing market.
"Through Bintai Energy Sdn Bhd, we are in a partnership distributing flanges and other related piping products in Indonesia for oil and gas (O&G) projects," he said.
Bintai Kinden's total orderbook is RM109.92 million, with RM102.43 million from M&E projects and RM7.49 million from O&G projects.