KUALA LUMPUR: Malaysian Genomics Resource Centre Bhd
(MGRC) posted a internet profit of RM1.01mil in the second quarter ended Dec 31, 2021 (2Q22) in contrast with a internet lack of RM1.55mil in the identical interval a 12 months prior.
The improved efficiency was due to its profitable penetration into the distribution of immunotherapy and cell therapies, which contributed to the next margin.
Revenue for the quarter surged to RM7.62mil in opposition to RM136,000 a 12 months in the past, primarily due to the introduction of the biopharmaceutical providers, i.e Covid-19 vaccine administration and distribution, distribution of immunotherapy and cell therapies.
MGRC stated the biopharmaceutical providers contributed roughly 78% of the entire income whereas 22% was generated from the genetic screening providers and molecular biology exams.
For the primary six months to Dec 31, MGRC posted a internet profit of RM1.25mil on income of RM16.94mil.
“The significant improvement in revenue was due to the new revenue streams arising from our diversification into the biopharmaceuticals sector in late 2020 while our return to profitability was led by the successful ramp-up in the distribution of higher margin immunotherapy and cell therapies.
“Our financial performance for the quarter under review is progressing positively and we believe it is strong enough for us to start regularising our stock listing status,” govt director Datuk Alvin Nesakumar stated in an announcement.
Meanwhile, MGRC has additionally introduced the redesignation of Noor Azri Sri Noor Azerai as an govt director efficient Feb 16, 2022, from impartial director beforehand.
Azri is presently an govt director of Bintai Kinden Corp Bhd, and an impartial non-executive director in each Serba Dinamik Holdings Bhd and NWP Holdings Bhd.
