ComfortDelGro’s subsidiary Vicom has posted a PATMI of $9.9 million for the third quarter of fiscal year 2025 that ended on September 30, reflecting a 45% year-on-year increase. For the first nine months of FY2025, the PATMI surged 22% year-on-year to reach $25.4 million.
In 3QFY2025, Vicom's revenue soared 36% year-on-year to $41.6 million. For the nine-month period, revenue was up 28% year-on-year, totaling $11.5 million.
The significant revenue growth in the third quarter was primarily driven by the Vehicle On-Board Unit (OBU) project and robust demand in the testing business, according to the company.
Operating costs for the quarter rose to $7.2 million, mainly because of higher fees and increased costs of raw materials connected to the OBU project.
The rise in PATMI was attributed to higher operating profit, which was partially offset by lower interest income and an increased provision for income tax.
As of September 30, Vicom maintained a cash balance of $42 million, which is expected to support ongoing business growth.
The net cash outflow amounted to $13.6 million during the third quarter, primarily utilized for payments related to the development of Jalan Papan and dividends.
As of November 10, Vicom's shares closed at $1.59, down 1 cent or 0.625%.
