KUALA LUMPUR (March 31): Nexgram Holdings Bhd sank further into the red in the second quarter ended Jan 31, 2017 (2QFY17) with a net loss of RM6.19 million — its third quarterly loss in a row — as revenue from its information technology (IT) subsidiaries continued to fall.

It recorded a net profit of RM24.01 million a year ago on revenue of RM25.18 million. Its 2QFY17 revenue came in 62% lower at RM9.66 million.

The topline fall was also because contribution from subsidiaries that deal in security and video surveillance equipment “dropped tremendously.”

This was due to environment changes across the IT and telecommunication industries, Nexgram said in a filing on Bursa Malaysia today.

Going forward, Nexgram said it is in the midst of securing new projects for its property, construction and logistics businesses as part of its business rationalisation.

Earlier this month, the group announced it had received an offer to undertake engineering, procurement and construction (EPC) works for projects from Oriental Mace Sdn Bhd worth RM338.8 million.

The projects involve the construction of a vaccine manufacturing plant and a pharmaceutical and neutraceutical manufacturing plant, as well as to construct a research and development laboratory and formulation development centre in Bandar Baru Enstek, Seremban.

Shares in Nexgram closed up 0.5 sen or 10% at 5.5 sen on some 3.73 million shares traded. The group has a market capitalisation of RM103.52 million.