KUALA LUMPUR - Datasonic Group Bhd's net profit surged 58.21 per cent to RM19.04 million for the first quarter ended June 30, 2023 (1QFY2024) from RM12.03 million a year earlier.
This was driven by a higher increase in revenue, Datasonic said, adding that earnings per share increased to 0.67 sen from 0.42 sen.
Group revenue jumped 32.36 per cent to RM84.82 million from RM64.08 million.
Of the total revenue, RM75.77 million was derived from the supply of smart cards, passports and personal services compared to RM55.8 million previously, Datasonic said in a filing on Bursa Malaysia yesterday.
The company declared a first interim dividend of 0.6 sen per share, up from 0.25 sen per share a year ago.
Datasonic executive chairman Tengku Datuk Seri Abu Bakar Ahmad Tengku Abdullah said, it was pleased to maintain the positive momentum by starting the new financial year strongly.
"This puts Datasonic back on a growth trajectory after recording a healthy recovery in the previous financial year," he said in a statement.
Meanwhile, the company said it had started the use of foreign worker cards (i-Kad) this month with the main emphasis being to quickly settle the current backlog and quickly process new i-Kad requests.
"This will certainly contribute positively to our income for FY2024. After that, the plan is to expand the platform business related to foreign workers such as e-remittance to add value to our customers," Tengku Abu Bakar said.
Datasonic secured an iKad contract worth RM140 million in November 2022.
The contract is for the supply of the card to the Immigration Department from Nov 1 2022 to Oct 31 2025.
Tengku Abu Bakar said the company's prospects continued to be promising supported by a healthy order book and strategic initiatives.
"At the same time, the team is actively pursuing new business opportunities locally, regionally and globally. Overall, we are confident as we navigate our new growth phase," he added.
As of June 30, Datasonic's order book stood at RM307.3 million.
