Solarvest Holdings Berhad for 3QFY23, registered a revenue of RM101.5 million, representing a 114.0% year-on-year (“YoY”) increase from the RM47.4 million attained in the same quarter last year (“3QFY22”). In tandem with the top-line growth, profit after tax and non-controlling interest more than doubled to RM5.2 million, as compared to the RM2.0 million recorded in 3QFY22.
Revenue contribution from the engineering, procurement, construction, and commissioning of the solar energy solution segment rose by 121.8% YoY to RM100.1 million, constituting 98.6% of the total revenue in 3QFY23. This was mainly attributed to the increase in recognition of the construction progress of large-scale solar (“LSS4”) projects.
The balance of RM1.4 million was derived from operations and maintenance (“O&M”) of solar energy system, sales of electricity through solar energy, and other activities.
In 9MFY23, Solarvest achieved significant growth, as revenue lifted 151.3% to RM252.3 million and net profit soared 354.6% to RM14.5 million. This marks the strongest nine months’ performance in the Group’s history.
