KUALA LUMPUR: Bermaz Auto Bhd
’s (BAuto) net profit jumped to RM87.29 million in the third quarter ended Jan 31, 2023 (Q3 FY2023) from RM40.71 million in the same period last year due to an improvement in gross margins for its Mazda domestic operations.
Its revenue rose to RM975.97 million versus RM623.13 million, mainly due to the continued fulfilment of the substantial backorders received for the group's domestic operations prior to the expiry of the sales tax exemption incentive for cars in June 2022.
"The contribution from its associate company, Mazda Malaysia Sdn Bhd, had improved in line with the higher sales volume in both the domestic and export markets,” BAuto said in a filing with Bursa Malaysia.
Moving forward, the company said the automotive sector continues to face ongoing challenges such as shortages in the supply of microchips and components, delays in the supply of vehicles, tighter financial conditions, uncertainties in geopolitical conflicts and weaker global growth.
"Barring any unforeseen circumstances, the board anticipates the performance of the group to remain positive for the final quarter of the financial year ending April 30, 2023,” it added. - Bernama
