Capital A records net profit of RM1.64bil for 3Q24

Capital A Bhd posted a net profit of RM1.64bil for the third quarter ended Sept 30, 2024 (3Q24), from a net loss of RM102.8mil in 3Q23. Capital A Bhd consists of Aviation Group and Capital A Companies, which are Asia Digital Engineering (ADE), Capital A Aviation Services (CAPAS), Teleport, MOVE Digital and Capital A International. In a statement, the group said its improved profitability in 3Q24 was mainly due to the foreign-exchange gain of RM2.3b from the appreciation of local currencies against the US dollar during the quarter. Capital A also saw a 17% year-on-year (y-o-y) increase in its revenue to RM4.9bil in 3Q24, mainly attributed to the recovery in demand from both domestic and international travel. On its airline business, Capital A said the company delivered strong results in 3Q24 despite it being a seasonally slow quarter. Revenue increased by 15% y-o-y to RM4.5bil, while earnings before interest, taxes, depreciation and amortisation surged by 50% y-o-y to RM577m.<br/>