KUALA LUMPUR (Aug 25): Elridge Energy Holdings Bhd’s (KL:ELRIDGE) net profit for the second quarter rose 6.2% from a year earlier, thanks to higher other operating income.

Net profit for the three months ended June 30, 2025 (2QFY2025), rose to RM12.43 million from RM11.71 million, the biomass fuel firm’s bourse filing on Monday showed.

Quarterly revenue was steady with a marginal 0.8% year-on-year increase to RM104.14 million from RM103.3 million, as palm kernel shell and wood pellet sales were largely flat.

The higher bottom line was due to higher other operating income of RM1.55 million, versus RM83,000 in 2QFY2024. A breakdown of other operating income was not disclosed in the bourse filing.

No dividend was declared for the quarter.

For the first half of FY2025, Elridge Energy’s net profit rose 14.8% to RM26.01 million from RM22.66 million in the previous January-June period, as cumulative revenue climbed 12.2% to RM213.81 million from RM190.59 million.

Looking ahead, Elridge Energy said it will expand its production capacity for palm kernel shells to grow its sales.

Its expansion plan, comprising new facilities in Kuantan and Pasir Gudang, is progressing as scheduled, targeted for completion by this year, according to Elridge Energy executive director and CEO Oliver Yeo. A new facility in Lahad Datu, Sabah, is expected to be completed by 2026.

The expanded production capacity will be crucial for the group to demonstrate to foreign customers and end-users that it has ample capacity in order to secure long-term contracts, the company noted.

Shares in Elridge ended half a sen or 0.7% lower at 70.5 sen, valuing the company at RM1.41 billion.

The company listed on the ACE Market of Bursa Malaysia in August 2022. Against its listing price of 29 sen, the counter has more than doubled.