KUALA LUMPUR (Nov 3): Dufu Technology Corp Bhd’s share price rose as much as 17 sen or 3.85% to RM4.59 on Wednesday morning after the precision machining parts manufacturer reported on Tuesday that third-quarter net profit rose to RM20.25 million from RM12.86 million a year earlier.
At 9:42am on Wednesday, Dufu’s share price pared gains at RM4.54 with 1.57 million units transacted.
On Tuesday, Dufu announced that revenue rose to RM90.99 million in the third quarter ended Sept 30, 2021 (3QFY21) from RM75.95 million a year earlier, according to the company’s Bursa Malaysia filing.
For 9MFY21, Dufu said cumulative net profit climbed to RM55.69 million from RM36.9 million a year earlier while revenue was higher at RM258.71 million versus RM212.31 million.
On Wednesday, Dufu’s share price at RM4.54 gives the company a market capitalisation of about RM2.4 billion based on the company’s 527.62 million issued shares.
Year-to-date, the counter’s price had risen to current levels from its closing share price of RM3.50 on Jan 4, 2021.