KUALA LUMPUR (Dec 31): Astino Bhd’s net profit for the first quarter ended Oct 31, 2021 (1QFY22) jumped 53.26% to RM17.58 million from RM11.47 million in the same quarter last year, on higher profit margin. 

Earnings per share rose to 3.56 sen from 2.37 sen a year earlier, the flat steel product manufacturer’s filing with the bourse showed. 

In contrast, its quarterly revenue fell 14.81% to RM136.47 million from RM160.2 million, due to a decline in production capacity caused by the temporary suspension of manufacturing operations amid the lockdown. 

On a quarterly basis, its net profit climbed 42.37% from RM12.34 million in 4QFY21, while revenue grew 54.97% from RM88.06 million. 

“The group is cautiously optimistic to achieve a more sustainable performance as the market demand for our product continues to remain firm,” Astino commented on its outlook. 

Astino’s shares closed down one sen or 1.55% at 63.5 sen on Friday (Dec 31), valuing the group at RM313.32 million.