Propel Global Berhad released its financial results for the second quarter ended 31 December 2025 (“Q2 FY2026”), recording revenue of RM20.5 million, compared to RM28.3 million in Q2 FY2025 while loss before tax for the quarter stood at RM3.9 million, compared to LBT of RM1.5 million in Q2 FY2025.
On a quarter-on-quarter basis, revenue improved by 14.0% from RM17.9 million in Q1 FY2026, while LBT narrowed from RM6.1 million in the preceding quarter, reflecting gradual operational stabilisation.
The O&G segment reported revenue of RM13.5 million and Profit Before Tax (“PBT”) of RM2.3 million, compared to RM21.4 million revenue and RM3.4 million PBT in the same quarter last year. The year-on-year decline was mainly attributable to lower progress claims from Engineering, Procurement, Construction & Commissioning (“EPCC”) projects. Nevertheless, the segment remained profitable, supported by variation orders and disciplined cost management.
The Technical Services segment recorded revenue of RM5.0 million with LBT of RM0.5 million, compared to revenue of RM2.9 million and LBT of RM3.1 million in Q2 FY2025. Revenue growth was driven by construction projects approaching completion, particularly mechanical and electrical works. Losses narrowed significantly as a result of cost optimisation initiatives undertaken during the period.
Meanwhile, the Information & Communications Technology (“ICT”) segment posted revenue of RM1.4 million and LBT of RM0.1 million, versus revenue of RM4.1 million and PBT of RM2.7 million in Q2 FY2025. The variance was primarily due to the absence of one-off service revenue recognised in the previous year. Underlying ICT demand remains stable, though earnings continue to reflect project timing and revenue recognition cycles.
The Others segment recorded LBT of RM5.6 million compare to the RM4.5 million in Q2 FY2025, mainly comprising corporate administrative expenses, performance-related incentives and share-based payments.
For the six months ended 31 December 2025 (“6M FY2026”), the Group recorded revenue of RM38.4 million, compared to RM62.7 million in the preceding year corresponding period. LBT stood at RM10.0 million, compared to LBT of RM5.5 million in 6M FY2025. The softer performance was primarily attributable to lower EPCC progress claims and the absence of one-off ICT service revenue recognised in the previous year.
