Perak Transit reported its 3Q FY24 results recording a profit after tax of RM17.7 million, marking a 6.7% year-on-year increase compared to last year's quarter (3Q FY23) of RM16.6 million.

The group achieved a total revenue of RM52.1 million and profit before tax ("PBT") of RM23.0 million for 3Q FY24, compared to the corresponding period of the previous financial year (3Q FY23) which recorded revenue of RM43.7 million and PBT of RM20.8 million. On a cumulative basis for 9-months ended 30 September 2024 (9M FY24), revenue of RM144 million and PBT of RM66.3 million were higher by 8.6% and 6.4% respectively as compared to the preceding year's 9-months ending 30
September 2023 (9M FY23) revenue of RM133.0 million and PBT of RM62.4 million.

The group said the higher revenue and PBT was mainly due to higher contributions from integrated public transportation terminal ("IPTT") operations and petrol station operations.

It has also undertaken a revaluation exercise on the properties held by its subsidiaries with a revaluation surplus, net of deferred tax, of approximately RM48.77 million. This has improved the net assets per share of the Group by approximately RM0.0444 (from RM0.6232 to RM0.6676) as at 30 September 2024.

The Group has also declared a fourth interim dividend of 0.5 sen per share, payable on 17 February 2025.