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VERDANT’s Q3 results are out, and the company recorded a net loss of RM1.98 million on revenue of RM8 million. The loss was mainly due to ongoing efforts to scale up operations, changes in the types of projects they are taking on, and lower margins as they deploy more BESS under the Solar ATAP programme
Short-term losses are understandable when a company is aggressively scaling up. The important part is VERDANT is expanding its BESS deployment pipeline under Solar ATAP, which could strengthen future recurring revenue
