KUALA LUMPUR: Ramssol Group Bhd posted a net profit of RM4.38 million in the third quarter (Q3) ended Septmber 30 2021 compared with RM1.99 million net profit recorded in Q2 FY21.
Group revenue stood at RM21.91 million, up three-fold from the RM7.71 million recodred in Q2 FY21.
The company said given that it was listed on July 13 this year, there were no comparative figures for the corresponding quarter of the previous year.
Ramssol said the higher revenue and net profit quarter-on-quarter were mainly driven by the continuity of projects as well as the provision of HCM technology applications and student management solutions for several new clients in Malaysia.
Based on geographical segmentation for Q3 FY21, Malaysia remained the main contributor to the company's total revenue, contributing 92.20 per cent or RM20.20 million, followed by Singapore at 2.90 per cent or RM0.64 million and Indonesia at 2.56 per cent or RM0.56 million.
For the nine-month period, RGB recorded RM34.70 million revenue, while net profit was RM7.21 million.
Group managing director and chief executive officer Cllement Tan Chee Seng said while the economy wass reopening and most sectors and industries were now allowed to operate, the risks from Covid-19 remained.
"Many businesses and educational institutions have continued work-from-home or home-based study practices. We believe remote working is here to stay and digitalisation is accelerating around the world to meet the changing trends of work. These trends benefit the company," Tan added.
Ramssol recently partnered with AI-firm, Laiye and Impiana Hotels Bhd to provide skills training relevant to the changing work landscape.
These efforts are in line with the Economic Outlook 2022 report released by the Ministry of Finance and 2022 Budget focus on upskilling and reskilling the workforce to meet future business needs.
Ramssol said it was well-positioned to capitalise on the digital transformation trends in human resources (HR) and businesses.
"We will continue to prioritise the introducing innovative HR tech solutions to our clients and remain focused as one of the key HCM solution provider and technology specialists in Southeast Asia," Tan said.