Sarine Technologies has reported net profit of US$12.6 million ($17.0 million) for the 1HFY2021 ended June, over 10 times higher than the net profit of US$1.2 million posted in the corresponding period the year before.

The higher profit was due to the higher revenue and gross profit margin (GPM) registered during the half-year period.

1HFY2021 revenue surged 60.5% y-o-y to US$36.0 million. This was due to the higher manufacturing activities in India, which began towards the end of the 3QFY2020 and continued towards 2021.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook