KUALA LUMPUR (Sept 24): NTPM Holdings Bhd saw its net profit in the first quarter ended July 31, 2021 (1QFY22) edged higher by 7.82% to RM15.79 million or 1.4 sen per share from RM14.64 million or 1.3 sen per share a year earlier on the back of higher unrealised gain on foreign exchange amounting to RM5.5 million.

In a Bursa Malaysia filing today, the group said its quarterly revenue, however, fell slightly by 3.08% to RM173.76 million against RM179.29 million due to the decrease in sales of tissue paper products.

The group also declared a first interim dividend of 0.8 sen to its shareholders, to be paid on Oct 29, 2021.

On a quarterly basis, the group's net profit jumped nearly three-fold from RM5.6 million or 0.5 sen per share registered in the immediate preceding quarter (4QFY21) while revenue dropped from RM188.53 million in 4QFY21.

Moving forward, the group continues to work diligently in the "new normal", take effective steps in ensuring a safe workplace, be resilient in the changing environment and turn external challenges into new opportunities.

"The group has been able to meet the customers' demand proactively leveraging on the manufacturing operations in Malaysia and Vietnam.

"However, such flexibility has since been constrained with the persistent Covid-19 infection wave in Vietnam from August 2021 affecting the production capacity of Vietnam operation.

"The group has raised its tissue paper segment products' prices since May 1, 2021 and the core board machines which recycle the wastewater treatment sludge have been successfully commissioned and will achieve full production in October 2021. These sales side efforts will help to cushion the impact of production cost increase," it revealed.

According to the group's website, NTPM is a consumer goods and paper company that aims to enhance personal hygiene in every household.

Shares in NTPM finished unchanged at 49 sen, giving it a market capitalisation of RM550.37 million.

Year to date, the stock has fallen by 32.88% from a peak of 79 sen reported in early January.