ComfortDelGro’s subsidiary Vicom has reported a patmi of $9.9 million for the 3QFY2025 ended Sept 30, up 45% y-o-y. For the 9MFY2025, patmi grew 22% y-o-y to $25.4 million.
For the 3QFY2025, revenue came in 36% y-o-y higher at $41.6 million, and 28% y-o-y higher for the 9MFY2025 at $11.5 million.
This growth in revenue for the 3QFY2025 was mainly contributed by the Vehicle On-Board Unit (OBU) project and strong demand in the testing business, the group says.
Operating costs grew to $7.2 million for the third quarter, mainly due to higher fees, raw materials in relation to the OBU project.
As such, patmi increased due to higher operating profit offset by lower interest income and higher provision for income text.
Vicom as at Sept 30 has a balance sheet with cash balance of $42 million to sustain and support business growth.
It has net cash of $13.6 million used during 3QFY2025 mainly for payment of development of Jalan Papan and dividends.
Shares in Vicom closed 1 cent lower or 0.625% down at $1.59 on Nov 10.
