KUALA LUMPUR: Aeon Credit Service (M) Bhd's net profit fell 27 per cent to RM62 million in the third quarter (3Q) ended Nov 30, 2024 from RM85.5 million in the same period last year.
Aeon Credit's, however, rose 15.5 per cent to RM562 million compared to RM486.5 million previously, driven by stronger loan and financing growth.
According to a filing with Bursa Malaysia, the non-bank lender's total transaction and financing volume reached RM2 billion, increased 16.2 per cent.
Its gross financing receivables stood at RM13.67 billion as at Nov 30, 2024.
Cumulatively, Aeon Credit recorded a net profit of RM239.6 million for the first nine months of financial year ending Feb 28 2025 (FY25), 21 per cent lower than RM305 million in the same period last year.
Its revenue increased 15 per cent to RM1.6 billion compared to RM1.4 billion previously.
Aeon Credit maintains a cautious business stance due to the prevailing geopolitical tensions, inflationary pressures and ongoing volatility in global financial markets.
The company said it will continue to remain prudent, placing emphasis on growing quality asset and closely monitoring the inherent credit risks in its financing portfolios.
"The group will also continuously enhance its information technology capabilities to improve on operational efficiencies while establishing an ecosystem to be built from the Aeon Group of Companies operating in Malaysia to expand on its customer reach.
"Barring unforeseen circumstances, the group expects to be able to maintain its business momentum by implementing the appropriate measures for the FY25," it added.
Aeon Credit's share price closed 0.2 per cent or one sen higher to RM6.10 for a market capitalisation of RM3 billion.