KUALA LUMPUR (Sept 21): Visdynamics Holdings Bhd posted a net profit of RM1.59 million for the third quarter ended July 31, 2023 (3QFY2023), an 18.18% increase from RM1.34 million in the previous year’s corresponding quarter, thanks to lower expenses. 

This mitigated the 3.58% decline in quarterly revenue to RM8.23 million from RM8.54 million, as machine sales contracted. 

A bourse filing showed the group’s selling and distribution expenses dropped 38.72% to RM1 million from RM1.64 million, while operating expenses fell to RM16,000 from RM22,000. Finance cost also reduced to RM8,000 from RM10,000. 

For the nine months ended July 31, 2023 the group’s net profit tumbled 88.44% to RM840,000 from RM7.27 million as revenue declined 44.75% to RM18.6 million from RM33.66 million. 

Looking ahead, the group anticipates that both the global economy and the semiconductor industry will remain stagnant, with business sentiment remaining weak throughout the year. 

“However, with our healthy financial position and strong product offering, we should be able to maximise gain when the business recovers, expected next year 2024,” it said. 

The group is involved in the design, assembly and testing of back-end equipment in the automated test equipment industry for semiconductors.

At Thursday’s close, Visdynamics gained one sen or 2.41% to 42.5 sen, giving it a market value of RM110.36 million.