Magni-Tech 1Q25 net profit jumps 36.4% to RM44.6mil

KUALA LUMPUR: Magni-Tech Industries Bhd reported a higher net profit of RM44.64mil for the first quarter ended July 31, 2024 (1Q25), up from RM32.72mil in the same quarter last year.

Revenue also rose by 34% to RM437.59mil, compared to RM324.37mil previously, primarily due to increased sales orders from the garment segment, it said in a filing with Bursa Malaysia.

Looking ahead, the group remains cautiously optimistic about the business outlook for the remaining quarters of FY2025 and is committed to remaining vigilant to navigate potential challenges and risks, ensuring the sustainability of its operations. - Bernama