RichTech posts RM6mil net profit in FY24 ahead of ACE Market debut
KUALA LUMPUR: RichTech Digital Bhd is focused on expanding its software requirements specification (SRS) platform, growing its market presence, and increasing adoption of its services in the electronic reloads and bill payments industry.
The electronic reloads distributor and bill payment service provider will also explore strategic alliances to maintain its competitive edge.
In the fourth quarter ended Dec 31, RichTech posted a net profit of RM939,000, bringing its full-year net profit for FY24 to RM6mil.
Quarterly revenue stood at RM1.8mil, bringing total revenue for the year to RM9.2mil.
There are no comparative figures as this is RichTech’s first interim financial report ahead of its listing.
RichTech is set to debut on the ACE Market on Feb 17.
“We are extremely pleased with our financial performance, which underscores our ability to capture the Malaysian electronic reloads and bill payments industry.
“The overwhelming response to our IPO, which was oversubscribed by 245.42 times, is a clear testament to the trust and confidence investors have in RichTech’s vision and long-term potential. We extend our sincere gratitude to our shareholders, business partners, and stakeholders for their unwavering support,” managing director Lee Teik Keong said in a statement.
