KUALA LUMPUR: Solarvest Holdings Bhd’s net profit more than doubled to RM15.9 million in the first quarter ended June 30, 2025, up 102.5 per cent from RM7.8 million a year earlier, driven by utility-scale solar projects under the Corporate Green Power Programme.
Revenue jumped 89.6 per cent to RM137.7 million from RM72.7 million in the same period last year. Earnings per share rose to 2.11 sen from 1.15 sen. No dividend was declared.
In a filing with Bursa Malaysia, Solarvest said revenue in the previous corresponding quarter was lower as the large-scale solar (LSS4) projects were in their final stages and contributed less to earnings.
The group noted that the outlook for Malaysia’s renewable energy sector remains positive, underpinned by the government’s target of raising renewable energy capacity to 70 per cent of the national energy mix and achieving net zero emissions by 2050.
As at June 30, 2025, the company’s unbilled order book stood at RM1.18 billion, which will be recognised progressively over the financial years ending March 31, 2026, and March 31, 2027.
“The group remains focused on expanding its order book by leveraging opportunities from the 4-gigawatt large-scale solar 5 (LSS5) and LSS5+ quota.
“Additionally, the government’s latest initiatives such as the battery energy storage system and self-consumption programmes, present new avenues to strengthen the group’s project pipeline and support its long-term growth in Malaysia’s renewable energy sector,” it added.
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