27/05/2025 (The Edge Malaysia), Kuala Lumpur - IOI Corp Bhd’s (KL:IOICORP) net profit for the third quarter more than doubled year-on-year thanks to higher palm product prices.

Net profit for the three months ended March 31, 2025 (3QFY2025) climbed to RM262.3 million from RM123.1 million in the same period a year earlier, according to the group’s bourse filing on Tuesday.

Revenue for the quarter increased 11.1% to RM2.74 billion, compared with RM2.46 billion in 3QFY2024. No dividend was declared for the quarter under review.

In 3QFY2025, the average selling price of crude palm oil (CPO) rose to RM4,667 per metric tonne (MT) from RM3,882 per MT a year earlier. The price of palm kernel (PK) also increased to RM3,715 per MT from RM2,238 per MT before.

Higher selling prices for palm products helped the group’s quarterly earnings grow compared to last year, even though the plantation segment had lower fresh fruit bunch (FFB) production and oil extraction rates (OER).

For the nine months ended March 31, 2025 (9MFY2025), IOI Corp posted a 42.2% rise in net profit to RM1.08 billion compared with RM762.5 million in the same period a year ago, as cumulative revenue increased 18.6% to RM8.37 billion versus RM7.06 billion previously.

For the last quarter of the financial year ending June 30, 2025, IOI Corp expects CPO prices to drop to between RM3,700 and RM4,000 per MT. Despite this, the group expects FFB production to improve, which should help support the plantation segment’s earnings.

Shares in IOI Corp ended four sen or 1.09% higher at RM3.72, valuing the group at RM23.38 billion.

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