Infomina Posted Revenue of RM42 Mil for 2QFY2023, Propped by Tech Infrastructure Operations, Maintenance, and Support Services Segment

The regional technology solutions provider has announced its second quarter financial results for the three months ended November 30, 2022 (2QFY2023).

During the quarter under review, the Group recorded revenue of RM42.0 million and a profit before tax (PBT) of RM6.4 million.

The main contributor of revenue for the quarter was technology infrastructure operations, maintenance, and support services segment which made up RM27.2 million or 64.7% of total revenue.

This segment mainly consists of revenue recognised from the Group’s contract for the provision of core banking applications for financial services institutions in the Philippines and Thailand.

During the current year-to-date ended 30 November 2022 (1HFY2023), the Group recorded revenue of RM83.9 million and a PBT of RM12.2 million.

Revenue for the 1HFY2023 was mainly attributed to technology infrastructure operations, maintenance, and support services segment which contributed RM56.7 million or 67.6% of total revenue.

The revenue attributed to this segment mainly consists of revenue recognised from the Group’s contract for the provision of core banking applications for financial services institutions in the Philippines and Thailand.

As at 30 November 2023, the Group’s balance sheet remained robust, sporting a net cash position of RM94.0 million whilst the current ratio stood at an impressive 1.75x.

Meanwhile total debt amounted to a minimal RM2.6 million against shareholders funds of RM80.9 million.

“Given the size of our orderbook and on-going jobs, this set of results should form a baseline for the quarters to come. Revenue for the quarter stood at RM42 million whilst PBT amounted to RM6.4 million. Notably, this quarter was impacted by one-off listing expenses which lowered our profitability,” Managing Director of Infomina, Yee Chee Meng said.

“Our 1HFY2023 performance is impressive as we achieved revenue of RM84 million and a PBT of RM12.2 million. Results were driven by a strong performance from our technology infrastructure operations, maintenance, and support services segment from our contracts in the Philippines and Thailand,” Yee added.

“The few months post our IPO has indeed been eventful, we received a RM125 million Blanket Purchase Agreement from Siam Commercial Bank on the 27th December 2022. This brought our current outstanding orderbook to above half a billion Ringgit,” he remarked.

“In addition to this, we launched our Infomina Centre of Excellence Z-Academy with Siam Commercial Bank & Broadcom on the 10th January 2023 as part of our commitment to developing talents in mainframe community.”

“Looking ahead, our performance will be driven by an outstanding orderbook of about RM528.2 million comprising of a well-diversified portfolio of over 60 active clients across multiple industries and geographical locations including Malaysia, Singapore, Thailand, Philippines, Indonesia, Hong Kong, China and Taiwan,” Yee concluded.

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