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KUALA LUMPUR: Gamuda Bhd’s net profit surged 56 per cent to RM221.49 million in the third quarter ended April 30, 2022 (Q3 FY2022), from RM141.89 million in the preceding year’s corresponding quarter.

The improved net profit was attributed to better earnings performance from its construction and property divisions, it said in a filing with Bursa Malaysia today.

Revenue, meanwhile, rose 22 per cent to RM1.18 billion from RM971.18 million.

Gamuda said the net profit of the construction segment soared 193 per cent to RM126.75 million, while the construction division saw net profit increasing by 20 per cent to RM62.47 million.

Overall, it projected that this year’s performance will be driven by property sales and the continued progress of the Mass Rapid Transit Putrajaya Line (formerly called MRT Line 2).

"The resilience of the group is underpinned by its construction orderbook, which increased to RM12.4 billion, following our successful joint bid for the AUD$1.35 billion (RM1.09 billion) Coffs Harbour Bypass Project in Australia, and unbilled property sales of RM5.4 billion,” it said. - Bernama