Berjaya Auto Bhd's pre-tax profit for the third quarter ended January 31, 2016, fell to RM58.22 million compared to RM66.17 million in the same quarter last year.
Revenue, however, rose to RM522.58 million from RM388.76 million previously.
In a filing to Bursa Malaysia today, Berjaya Auto said the higher revenue was mainly due to the operations in Malaysia and the Philippines which recorded sales volume growth of 50% and 42% respectively.
"If not for the implementation of the goods and services tax (GST), the revenue growth would have been higher as sales revenue and cost of sales for the current quarter was recorded net of GST," it said.
It said the remaining quarter of this financial year will be challenging as local and global economies had deteriorated further since crude oil prices fell to a historic low, thus creating further pressure on Malaysia's economy. – Bernama, March 11, 2016.
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