KUALA LUMPUR: Samaiden Group Bhd's net profit rose 21.31 per cent to RM2.96 million in the first quarter (Q1) ended Sept 30, 2023 from RM 2.44 million a year ago.
Demonstrating a robust growth trajectory, the company recorded a revenue of RM46.16 million, a notable 13.22 per cent increase compared to RM40.77 million in the corresponding quarter of the previous year.
This is attributed to heightened work progress on ongoing projects, underscoring Samaiden's operational efficiency and market agility.
In the wake of its strong first-quarter results, Samaiden said it had achieved "remarkable" success in the Corporate Green Power Programme (CGPP), further cementing its position as a leader in renewable energy.
It secured a significant solo CGPP award with an export capacity of 13.42 megawatts (MWac).
Additionally, in a strategic consortium with Premier Supreme Sdn Bhd Samaiden successfully won another CGPP project, bringing in an impressive 29.90 MWac.
"These dual wins not only underscore Samaiden's technical proficiency and collaborative strength but also reinforce their role in driving Malaysia's green energy initiatives forward," group managing director Chow Pui Hee said.
He added that the success in the CGPP marks a significant milestone for the company, reinforcing its position as a key player in sustainable energy.
With the government's unwavering commitment to initiatives like the National Energy Transition Roadmap (NETR), Chow said the company is more confident than ever in its ability to drive innovative and impactful sustainable energy solutions across the region.
Samaiden is optimally positioned to benefit from Malaysia's increasing focus on renewable energy resources and initiatives to reduce carbon dioxide emissions, with a goal to achieve net-zero by 2050.
Samaiden's total outstanding orderbook, valued at RM350.7 million as of September is expected to make a positive contribution to its revenue and profit over the next three years.