Venture Corp posts $60.6 million net profit in 3QFY2024, down 4.7% q-o-q

This was partially offset by higher revenue in the networking and communications and semiconductor related equipment tech domains.

Net profit margin for the quarter stood at 8.8%.

As at Sept 30, the company’s net cash position stood at $1.19 billion.

Despite softer customer demand in 3QFY2024, the company expects its revenue for 2HFY2024 to be relatively stable compared to 1HFY2024.

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It continues to see good opportunities, including new design wins and product introductions for secular growth segments like life science and AI data centre related businesses. 

Shares in Venture Corp closed 2 cents higher or 0.15% up on Nov 8 at $13.65.