PENANG: Automated manufacturing solutions provider, ECA Integrated Solutions Bhd, delivered robust growth with revenue surging 57.1% year-on-year (YoY) to RM30.9 million, up from RM19.7 million in the preceding year’s corresponding period (9M FY22).

This was disclosed when the company announced its third quarter (Q3’23) and nine months financial results for the period ended July 31, 2023 (9M FY23).

The improvement was primarily driven by increased deliveries of integrated production systems (IPS) and standalone automation equipment (SAE) to customers.

Meanwhile, the group’s net profit grew by 123% y-o-y to RM10.8 million in tandem with the rise in revenue that is further augmented by better overall cost management. The performance represents a healthy 9M FY23 net profit margin of 35%. ECA’s effective tax rate is negligible as it has Pioneer Status till November 2027.

ECA’s 9M FY23 revenue and net profit of RM30.9 million and RM10.8 million respectively have already exceeded its full-year FY22 reported revenue and net profit of RM27.5 million and RM7.8 million.

For the quarter under review, Q3 FY23 revenue rose 8.8% y-o-y to RM10.9 million as compared to RM10 million in Q3 FY22. Net profit was broadly steady at RM3.1 million vis-à-vis RM3.2 million earlier, chiefly due to increased administrative expenses.

Executive director-cum-COO Chua Lye Hock (pix) said, “Despite the subdued economic landscape, ECA has demonstrated remarkable resilience and is well on our way to achieve a record-breaking year. Our 9-month top- and bottom-line have already exceeded our full-year performance in FY22 thanks to the consistent and strong influx of orders from both our existing and new customers within the IPS and SAE segments.”

Since going public in November 2022, he added, they are now strategically positioned to execute their expansion plans with the fresh funds raised.

ECA Integrated Solutions is a certified ISO9001 company located in Penang that aims to deliver innovative automation solutions with superior machine performance, excellent quality and time to market.