KUALA LUMPUR (Feb 27): Lingkaran Trans Kota Holdings Bhd (Litrak) grew its net profit in the third quarter ended Dec 31, 2019 (3QFY20) by 15.42% to RM70.62 million from RM61.18 million, thanks to higher profit from Sprint Group, lower expenses and higher revenue.

Also supporting the quarter’s bottomline growth was lower finance costs and maintenance expenses. Earnings per share rose to 13.29 sen in the quarter from 11.59 sen previously.

The group declared a second single tier tax-exempt interim dividend of 15 sen per share for the quarter, unchanged from 3QFY19.

Revenue grew 0.94% to RM132.33 million from RM131.09 million, thanks to higher traffic volume at the Damansara-Puchong expressway (LDP).

For the nine-month period ended Dec 31, 2019 (9MFY20), Litrak net profit was up 17.17% to RM207.37 million from RM176.98 million.

Revenue, meanwhile, grew 0.71% to RM392.36 million from RM389.58 million in 9MFY19.

On prospects, Litrak is still assessing all options for the company moving forward, should the proposed highway takeover by the Government — inclusive of LDP and Sprint — come to pass.

In the meanwhile, Litrak said traffic volume on both LDP and Sprint Highway are expected to see marginal growth, adding that the 18% toll cuts on all PLUS highways plus the subsidies monthly pass for public transportation since the start of 2019 may impact tollable traffic volume for both highways.

Shares of Litrak closed 1 sen or 0.22% higher at RM4.53, giving it a market capitalisation of RM2.41 billion.