Golden-Agri Resources Q3 net profit soars 80% QoQ to $118m

The increase was attributed to a foreign exchange gain during the quarter.

Golden-Agri Resources’ net profit surged 80% quarter-on-quarter (QoQ) to $118m in Q3 2024 from $65m in Q2.

Revenue rose 7% QoQ to $2.7b in Q3, from $2.58b in the previous quarter.

The increase was primarily attributed to foreign exchange gain recorded in the quarter compared to a loss in the previous quarter.

For 9M 2024, net profit declined 12% to $220m from $250m. Meanwhile, revenue grew 8% to $7.8b due to increased sales volume despite lower plantation output and a slight increase in average crude palm oil (CPO) prices.

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