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IOI Corp 3Q net profit more than doubles on higher palm product prices

IOI Corp Bhd's net profit for the third quarter ended March 31, 2025, surged to RM262.3 million, more than doubling from RM123.1 million a year earlier, driven by higher crude palm oil (CPO) and palm kernel prices. Quarterly revenue rose 11.1% to RM2.74 billion despite lower fresh fruit bunch production and oil extraction rates in the plantation segment. For the nine months ended March 31, 2025, net profit climbed 42.2% to RM1.08 billion, with revenue increasing 18.6% to RM8.37 billion. Looking ahead, IOI expects CPO prices to ease to RM3,700-RM4,000 per metric tonne in the final quarter but anticipates improved fresh fruit bunch output to support earnings. Its shares closed up 1.09% at RM3.72 today, valuing the group at RM23.38 billion. — TMR