CYBERJAYA: Pure play enterprise Internet of Things (“IoT”) solutions provider, SMRT Holdings Berhad (“SMRT” or the “Group”), has announced its fourth quarter (“4QFY24”) and full-year financial results for the period ended 30 June 2024 (“FY24”). SMRT had previously changed its financial year-end to 30 June 2023 from 31 December 2022, which means that comparative figures for the preceding year’s corresponding quarter and period are not available.
For FY24, SMRT achieved a revenue of RM69.1 million and a profit after tax and non-controlling interest (“net profit”) of RM26.7 million, reflecting a robust net profit margin of 38.6%.
Quarterly
, the Group reported a revenue of RM17.9 million in 4QFY24, marking an 11.2% growth from RM16.1 million in the immediate preceding quarter (“3QFY24”). This growth was primarily driven by variations in the number and timing of deployments, as well as an increase in the cumulative number of managed sites.
Meanwhile, the Group’s net profit stood at RM6.2 million in 4QFY24, compared to RM6.9 million in 3QFY24, which included a one-off gain on the disposal of a dormant subsidiary.
Group Managing Director of SMRT, Mr. Maha Palan, commented, “We are pleased to conclude the financial year on an upbeat note, reinforcing SMRT’s position as a pure play enterprise IoT solutions provider. Our key markets in Malaysia and Indonesia continue to thrive, and our recent entry into the Philippines’ financial services sector is poised to drive future growth. Additionally, we have expanded into new verticals, with IoT deployments for the water utility sector already underway. As our deployment footprint expands, the addition of sites under our management will further bolster our recurring income, which now accounts for over 50% of our revenue. With a clear strategic vision, we remain committed to leading the provision of IoT services across ASEAN.”
