KUALA LUMPUR, March 10 — Bermaz Auto Bhd’s (BAuto) net profit rose to RM33.08 million for the third quarter ended January 31, 2021 (3QFY21) from RM27.15 million in the same period last year.
Revenue also grew 27.9 per cent to RM 597.98 million from RM467.46 million previously.
In a filing with Bursa Malaysia today, the Mazda car distributor said the higher revenue was largely due to improvement in sales volume from domestic operations despite the impact of the Covid-19 pandemic, partly offset by lower sales volume from the Philippines operations.
The improvement in sales volume for the domestic operations was mainly attributed to the positive impact from the Short-Term Recovery Plan (PENJANA) economic stimulus package introduced by the government in June 2020 which provides 100 per cent sales tax exemption on completely knocked down vehicles and 50 per cent sales tax exemption on completely build-up vehicles for the period from June 15, 2020 to Dec 31, 2020.
It said the market has also reacted positively to its aggressive promotional campaign with free six years of warranty and six years of free maintenance to boost sales.
For prospects, it said the group is still cautious and expects the automotive sector to remain challenging in 2021.
“Launching of new and/or new facelift Mazda models are still very much dependent on market sentiments and economic conditions,” it said. — Bernama
