KUALA LUMPUR: Cypark Resources Bhd
’s net profit rose 5.5% to RM15.81mil in the first quarter ended Jan 31, 2022 (1Q22) from RM14.98mil a year ago driven by the lower recognition of deferred tax expenses in quarter.
In a filing with Bursa Malaysia, Cypark said its revenue was up 0.9% to RM77.20mil in the quarter compared with RM76.47mil in the corresponding period a year ago due to the better performance of the renewable energy (RE) division in the quarter.
For the RE segment, it said revenue and profit before tax for 1Q22 increased to RM66.3mil and RM17.5mil respectively.
“Higher revenue and profit in current quarter were mainly contributed by the better energy generation from most of the solar plants in current quarter compared with 1Q21,” it added.
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