KUALA LUMPUR (April 26): ViTrox Corp Bhd’s net profit for the first quarter ended March 31, 2018 rose to RM20.26 million from RM18.57 million a year earlier, on higher revenue from its automated board inspection (ABI) business.

Earnings per share rose 9.09% to 4.31 sen from 3.96 sen, the group said in a filing with Bursa Malaysia.

ViTrox attributed the higher revenue from the ABI business to an increase in demand from a wider customer base and positive acceptance of its products.

The group's total revenue for the quarter was up 11.07% to RM77.31 million from RM69.61 million previously.

ViTrox said it is optimistic of the group's business prospects for the current financial year.

“The group will continue to focus on market expansion activities, customer relationship building and product innovation to grow our business further in the new financial year,” said ViTrox.

The group added that it has taken steps to minimise its net monetary assets to mitigate the financial impacts arising from currency fluctuation.

ViTrox's share price fell four sen or 0.78% to RM5.09 today, for a market capitalisation of RM2.39 billion. Over the past 12 months, the stock has risen by 93.83% from RM2.63.