Underground utilities and substation engineering specialist MN Holdings Bhd's revenue for the first quarter ended Sept 30, 2024 (1Q25), almost doubled to RM103.1 million compared to the RM55.1 million recorded in 4Q24.

Higher revenue contributions from both underground utilities and substation engineering segments drove the 87% surge.

During the quarter under review, its underground utilities engineering segment contributed more than double to RM54.1 million or an increase of 115.7% from RM25.1 million in 1Q24.

The revenue growth was also supported by MN Holdings' substation engineering segment, whose top line increased 63% to RM49.1 million from RM30.1 million.

The double-digit growth in revenue has further lifted its net profit in 1Q25 to RM7.1 million, a 70.6% increased, compared to RM4.2 million in 1Q24. Correspondingly, its earnings per share rose to 1.14 sen from 0.87 sen previously.

Looking ahead, MN Holdings will leverage its ability for future opportunities and sustain robust organic growth, driving both revenue and profitability.

As of Nov 25, 2024, MN Holdings' order book stands at RM601.1 million and these secured contracts are expected to contribute significantly to the group's earnings over the next two to three financial years, barring any unforeseen circumstances.