RM16mil forex loss pushes Dufu into the red

PETALING JAYA: Dufu Technology Corp Bhd slipped into losses in the third quarter ended Sept 30, 2024 (3Q24), primarily due to a foreign-exchange (forex) loss of RM16.4mil that offset an increase in revenue.

Dufu, which makes precision machining parts, reported a net loss of RM3.2mil for 3Q24 as compared to a net profit RM3.38mil in the previous corresponding quarter, resulting in a loss per share of 0.6 sen.

Revenue, however, rose by 19.3% year-on-year (y-o-y) to RM65.89mil, driven by increased sales of hard disk drive components.

For the first nine months ended Sept 30, 2024, the group’s net profit declined by over 45% y-o-y to RM9.65mil, even as its revenue increased by 6.6% y-o-y to RM188.74mil.