KUALA LUMPUR (Oct 17): Infomina Bhd's net profit rose 53.63% to RM7.27 million for the first quarter ended Aug 31, 2023 (1QFY2024), from RM4.73 million a year earlier, on the back of better performance of its technology infrastructure business operations support segment.

At the segment profit level, the business operations support segment — which includes operations, maintenance, and services for technology infrastructure — grew 42.61% to RM11.78 million, from RM8.26 million previously.

The design and delivery segment, meanwhile, saw a 70.1% decline to RM570,000, from RM1.91 million a year ago, it showed in a filing.

Quarterly revenue rose 34.02% to RM56.21 million, from RM41.94 million previously, as contributions from both the business operations support segment, and the technology infrastructure design and delivery segment rose.

Revenue from the business operations support segment mainly consisted of revenue from contracts for the provision of technology infrastructure solutions for financial services institutions in the Philippines and Thailand, the filing read.

On its prospects, Infomina said it had set up a unit to venture into Japan. This month, it also secured a US$7.5 million (RM35.52 million) contract spanning three years for the provision of technology application and infrastructure operations, maintenance and support services to Bangkok Bank Public Co Ltd.

“The group will continue to explore more business opportunities, locally and regionally, to further enhance its order book,” it said.

Shares in Infomina rose four sen or 2.41% to settle at RM1.70 on Tuesday, giving the company a market capitalisation of RM1.02 billion. The counter, which was listed in November 2022, has risen by 18.06% this year.

Read also:
Infomina bags technology application and infrastructure operation job worth RM35 mil