KUALA LUMPUR: Perak Transit Bhd remains on a growth path amid efforts to diversify its business and revenue streams.

In the third quarter ended Sept 30, 2023, the group recorded a net profit of RM16.6mil, up from RM15.03mil in the same quarter in 2022, while earnings per share rose to 2.28 sen from 2.15 sen previously.

The group declared a fourth interim dividend of 0.75 sen per share, payable on Feb 14, 2024, bringing the year-to-date payout to 2.25 sen per share.

Revenue, meanwhile, was RM43.65mil as compared to RM45.61mil in the previous comparative quarter.

For the cumulative three quarters, the group’s net profit was RM47.77mil as compared to RM44.15mil in the previous corresponding period, while revenue rose to RM132.57mil from RM128.39mil.

On future developments, executive director Datuk Cheong Peak Sooi said the development of the group’s third terminal, Bidor Sentral, has received approval for investment tax allowance of 50% on qualifying capital expenditure, which can be deducted against 50% of statutory income of the year of assessment in respect of bus terminal activities.

As at Oct 31, 2023, the terminal is estimated to be 84% completed, he said.

Cheong added that Kampar Putra Sentral transitioned to a new in-house PTRANS Terminal Management System (PTMS) in September 2023, enhancing passengers’ ticketing and boarding experience

“We plan to implement PTMS in other terminals managed by the group in the future,” he said.