KUALA LUMPUR (May 30): Aliran Ihsan Resources Bhd's net profit fell 20% to RM9.95 million in its first quarter ended Mar 31 from RM12.39 million a year ago, due to lower construction revenue.
In a statement on Wednesday it said revenue rose 31.69% to RM24.18 million from RM18.36 million in the same quarter last year.
Earnings per share were 3.76 sen compared to 5.23 sen.
Reviewing its performance, AIRB said its revenue was expected to increase during the year due to anticipated higher production from its water treatment business as well as increase in construction revenue.
"However, despite the expected revenue growth the group highlighted that profitability would be impacted by the expiry of a concession contract of an associate company in June and by the implementation of a major maintenance programme," it said.