PETALING JAYA: IGB Real Estate Investment Trust
(REIT) posted a 17.6% year-on-year (y-o-y) decline in its net profit for the first quarter ended March 31, after the Covid-19 pandemic and the movement control order (MCO) eroded its bottom line.
The company told the stock exchange yesterday that its net profit fell to RM68.36mil as compared to the RM82.88mil recorded a year earlier.
Meanwhile, the revenue in the Jan-March 2020 period also dropped by 11.5% y-o-y to RM125mil from RM141.23mil in the first quarter of last year.
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