20-05-2025
- Business
- Malaysian Reserve
Pekat's 1Q net profit triples on strong solar project execution
PEKAT Group Bhd's net profit for the first quarter ended March 31, 2025 (1Q25) surged threefold to RM12.06 million from RM3.78 million a year earlier, driven by higher revenue from its solar and power distribution segments.
Quarterly revenue more than doubled to RM150.31 million from RM57.63 million in 1QFY2024, according to the group's filing with Bursa Malaysia today.
The group said its solar photovoltaic (PV) division was the main revenue contributor, with a RM56.17 million increase due to stronger project execution across commercial, industrial, and residential sectors.
The power distribution equipment division, supported by the acquisition of Apex Power Industry Sdn Bhd, saw revenue double with a RM27.89 million rise.
Pekat also recorded strong gains in its trading division (up 79.4%) and earth and lightning protection (ELP) division (up 12.2%), with the latter boosted by increased project execution for data centres.
Looking ahead, Pekat is developing two 29.99 MWac solar power plants under the Corporate Green Power Programme, one of which will provide recurring income from end-2025.
The second project, recently secured on an EPC basis, is expected to positively impact FY2025 earnings. — TMR
