KUALA LUMPUR: Artroniq Bhd reported a net loss of RM1.2 million in the second quarter ended Dec 31 2023.

Its revenue dropped 4.2 per cent to RM15.4 million from the preceding quarter's revenue of RM16 million.

The decline is attributed to a deceleration in project advancement.

In its quarterly report, Artroniq said the revenue from the ICT products and related services segment reflected the project's progress during the reviewed quarter, with the decrease attributed to a slower pace compared to the first quarter (1Q) of 2024.

Artroniq is optimistic despite the "modest adjustment" in its financial performance this quarter, considering it as a progression in its continuous efforts towards achieving profitability.

"Our strategic emphasis on the ICT products and services, coupled with our burgeoning presence in the semiconductor sector, places us on a solid path aligned with our vision for sustainable growth.

"We are confident in our ability to adapt and thrive amidst market dynamics, bolstered by our unwavering commitment to innovation and strategic foresight," it said.

Artroniq changed its financial year-end from Dec 31 to June 30, resulting in the absence of comparative financial figures for the corresponding quarter of the preceding year.