KUALA LUMPUR: Binastra Corporation Bhd's net profit for the third quarter (3Q) ended Oct 31, 2024 more than doubled to RM24 million compared to RM11.2 million in the same period last year.
Its revenue also doubled to RM265.9 million versus RM120.9 million previously with its construction segment remaining the primary contributor.
For the first nine months of its financial year ending Jan 31, 2024 (FY25), the construction firm posted a stronger earnings with its net profit doubled to RM65 million and the revenue stood at RM676 million.
Binastra managing director Datuk Jackson Tan said the stronger earnings was driven by better replenishment and higher construction order book.
As of Dec 2024, the company secured a total of RM3.1 billion contract, while total outstanding order book stood at RM3.7 billion across 22 ongoing projects, ensuring stable earnings visibility over the next five financial years.
"With our proven strong track record in the construction industry, we believe more opportunities lie ahead.
"We remain open to explore untapped areas to broaden our horizon as a dedicated pure-play construction outfit," he said in a statement.
Binastra shares closed at RM1.73, two sen or 1.1 per cent lower, giving the company a market capitalisation of RM1.88 billion.