Kuala Lumpur: IOI Properties Group Bhd’s net profit for the third quarter ended March 31, 2025 (3Q 2025), dropped to RM76.13 million from RM220.21 million in the same quarter last year. Revenue for the quarter under review declined by RM146.9 million, or 16 percent, to RM755.16 million from RM902.19 million.

According to BERNAMA News Agency, in a filing with Bursa Malaysia, IOI Properties stated that the lower revenue was primarily due to the absence of land sales in Senai, Johor, worth RM211.1 million. These sales had been recognized under the property development segment and had significantly boosted revenue in the corresponding quarter of the previous year.

The property development segment recorded revenue of RM394.9 million and an operating profit of RM131.1 million for the current quarter. This reflects a decline of RM273.9 million, or 41 percent, in revenue and a decrease of RM17.2 million, or 12 percent, in operating profit compared to the corresponding period last year, the company said.

For the nine-month period, net profit declined to RM240.08 million from RM516.15 million, while revenue edged up slightly to RM2.17 billion from RM2.16 billion a year earlier.

On prospects, IOI Properties mentioned that while challenges in the global business environment and trade uncertainties persist, the group’s financial performance for the year is expected to remain satisfactory, barring unforeseen circumstances. This is supported by its diversified product offerings across three countries, a sizeable recurring income stream from its established property investment portfolio, and the favourable outlook of the hospitality and leisure segment.