KUALA LUMPUR: Basement and foundation construction specialist Aneka Jaringan Holdings Bhd registered a net profit of RM1.21 million for the second quarter (2Q) ended February 2024, reversing the net loss of RM5.1 million a year ago.

The company generated a revenue of RM54.22 million, reflecting a growth of 26 per cent or RM11.24 million compared to the RM42.96 million recorded a year ago.

Aneka Jaringan attributed this growth to the group's project execution and strategic measures, along with the favourable recovery observed in the construction industry.

The company expressed confidence in the potential of its construction and renewable energy sector, highlighting the achievement of PT Aneka Jaringan Energy (PTAJE) secured its inaugural engineering, procurement, construction, and commissioning project valued at RM0.48 million in the second quarter of the financial year 2024.

"Nonetheless, the recent contract win for the Kingswoodz Bukit Jalil project from Binastra Builders Sdn Bhd further strengthens the group's position in the construction industry, with a total contract sum of RM16.0 million, secured by the group in March 2024," it added.

Aneka Jaringan managing director Pang Tse Fui said the sustained growth and profitability demonstrate its commitment and ability to overcome market challenges with determination and resilience.

"We are particularly pleased with the positive performance of our construction operations and the significant milestone achieved by PTAJE.

"As we move forward, we remain committed to delivering value to our stakeholders and driving sustainable growth," he said.