Beleagured PN17 listed company, Serba Dinamik has released its third-quarter results and the performance of the group continues to be in the tough territory.
For the quarter ended 31st March 2023, the Group recorded revenue of RM 6.2million, a decrease of 94.16% from the immediate preceding quarter which it said was mainly due to a decline in O&M activities overseas. Overall, the Group incurred a gross loss of RM 62.6 million, showing 2.55% further losses as compared to Q2FY23. Serba relies on most of its revenue from the O&M segment.
ICT and E&T Segments remained as minor contributors during the quarter with ICT showing a revenue of RM 0.24 million while recording a loss of RM 0.19 million. E&T on the other hand contributed revenue of RM 0.39 million.
The group’s year-to-date revenue and gross loss recorded a total of RM 405.1 million and RM 138.7 million respectively. 98.47% of the group’s revenue was contributed by O&M segment, followed by 0.62% from E&T and the remaining 0.91% from EPCC and ICT segments. The Group recorded a loss before tax of RM301.9 million.
The Board said it anticipates that the Group’s operations will remain challenging going into 2023 due to the uncertainty of the global economy as well as the current challenges the company is facing from a liquidity perspective. The O&M segment will remain its core competency and provide the fundamental of its operations.
