For the third quarter 2023, MyEG posted Revenue and Profit after Taxation of RM194.12 million and RM120.10 million as compared to RM162.62 million and RM152.03 million respectively in the corresponding quarter last year.
The group said the increase in revenue of RM31.50 million (or 19.37%) was a result of contributions from newly launched services from our Zetrix blockchain platform; and contributions from the sale of Zetrix tokens.
However, the PAT decreased by RM31.92 million (or 21.00%) to RM119 million as compared to RM150 million in Q3 2022. The group said this was mainly due to the one-off recognition of fair value gain in investment amounting to RM61.89 million as a result of the listing of its investment in Agmo Holdings Berhad in Q3 FY2022.
Without taking into consideration the one-off recognition of fair value gain, operating PAT increased by RM29.96 million (or 33.25%) which was attributable to the contribution from our Zetrix platform.
For the year-to-date period ended 30 September 2023 (“9M FY2023”), the Group recorded Revenue of RM552.22 million as compared to RM486.18 million in the corresponding period (“9M FY2022”) while PAT for 9M FY2023 increased to RM336.79 million as compared to RM325.58 million in the corresponding period 9M FY2022.
MyEG said the lower increase in PAT of RM11.21 million (3.44%) for 9M FY2023 was mainly due to the one-off recognition of fair value gain in the investment of RM61.89 million from the Agmo Listing in Q3 FY2022 which accounted for the relatively higher PAT in 9M FY2022.
