KUALA LUMPUR (May 22): Inari Amertron Bhd announced a 7.8% growth in net profit for its third quarter ended March 31, 2018 (3QFY18) at RM55.17 million from RM51.18 million a year ago, mainly attributable to the increase in demand for its products.

This was despite the group having to incur higher depreciation cost, increase in taxation, as well as less favourable foreign exchange rates during the quarter under review, it said in its bourse filing today.

Quarterly revenue came in at RM325.83 million, up 18.9% from RM274.03 million in the previous corresponding quarter, thanks to the increase in demand, as well as changes in product mix.

Inari Amertron proposed a third single tier interim dividend of 1.6 sen per share, payable on July 6.

The dividend paid will be based on the enlarged share capital after the completion of its one-for-two bonus issue.

For the nine-month period (9MFY18), the semiconductor player turned in net profit of RM192.16 million, which translates into am 18.5% increase against RM162.23 million a year ago.

Cumulative revenue stood at RM1.07 billion, 29.4% higher than the RM830.66 million registered in 9MFY17.

For the remainder of FY18, Inari Amertron said it remains cautiously optimistic of continuing to deliver positive performance.

It added that besides focusing on managing costs and margins, the group will continue to work on new manufacturing projects and look out for investment opportunities to enhance its overall growth.

Shares in Inari Amertron closed five sen or 2.37% up at RM2.16 today, bringing it a market capitalisation of RM6.79 billion. The stock has risen some 54% over the past 12 months, from its closing price of RM1.40 a year ago.