KUALA LUMPUR: Pekat Group Bhd's net profit rose 63.6 per cent to RM3.6 million in the third quarter (Q3) ended Sept 30, 2023 from RM2.2 million a year ago.
The company's revenue rose 35.3 per cent to RM62.9 million in Q3 2023 from RM46.5 million last year.
This is due to the successful execution of the solar photovoltaic (PV) project for commercial and industrial solar rooftop projects within the quarter.
For the nine months, Pekat's net profit rose to RM10.2 million from RM7.7 million a year ago, while its revenue rose to RM169.2 million from RM134.2 million previously.
The higher revenue was driven by the successful execution of various concurrent solar PV projects.
Pekat Group chief executive officer Tai Yee Chee said the company is poised for continued success, maintaining its commitment to operational excellence and sustainable business practices.
"We are excited about the future as we leverage the evolving solar landscape and contribute to Malaysia's renewable energy goals.
"Pekat remains dedicated to delivering sustainable solutions and further enhancing our industry leadership," Tai said.