Kronologi Asia Bhd today announced its profit after tax for the third quarter ended 31 October 2024* increased by 103.4% YoY to RM2.052 million owing to improvement of gross profit margin, including a reversal of deferred tax liabilities, while revenue for the quarter amounting to RM70.619 million, marking an increase of 4.2% year-on-year (YoY), according to a press release dated Dec 20 circulated by the company. (*FY2024/25: Financial year ending 31 January 2025)
Kronologi, a provider of hybrid and cloud enterprise data solutions in Asia, recorded a nine-month (February-October 2024) revenue totalled at RM211.719 million which was comparable to that from the corresponding period last financial year at RM210.383 million. The nine-month profit after tax was lower by 22.4% YoY due to lower average profit margin amid more competitive business environment and global uncertainties.
According to the press statement and a Bursa filing dated Dec 20, for the nine-month period during FY2024/25, the Philippines market contributed the highest revenue at RM66.665 million (31.5%), followed by Singapore at RM58.389 million (27.6%) and China at RM55.988 million (26.4%). The three markets made up 85.5% of the total nine-month revenue at RM211.719 million. The balance of 14.5% was contributed collectively by Hong Kong, Taiwan, India, Southeast Asia and others.
By business segment, revenue contributed by the group’s Enterprise Data Management (EDM) Infrastructure Technology segment amounted to RM162.875 million or 76.9% of total revenue, with EDM As-A-Service making up the balance.
“Broad-based customer preference for intelligent data infrastructure platforms and As-A-Service approach for a data-driven future has enabled us to achieve the positive result and places us well-positioned into our final quarter for the year,” said CEO Edmond Tay.
