Grand Venture Technology's Q3 net profit soars 51.3%

Thanks to growth across all core business segments.

Grand Venture Technology’s net profit jumped by 51.3% year-on-year (YoY) to $2m for the third quarter, its bourse filing showed.

Revenue for September saw a 35.8% rise to $111.9m, driven by growth across all core business segments.

The semiconductor segment stood out, recording a 50.8% increase in revenue to $59.5m due to improved demand from key customers, new program wins, and an expanded customer wallet share.

The life sciences segment also posted modest growth of 3.4%, reaching $162m as the group strengthened customer relationships and expanded business within the segment.

Revenues from electronics, aerospace, and medical and other sectors grew by 32.8% to $36.1m, boosted by robust demand in aerospace and medical, alongside contributions from its new subsidiary, ACP Metal Finishing Pte Ltd. This growth partially offset weakness in the electronics segment.

Looking ahead, GVT plans to leverage increasing demand for high bandwidth memory, a crucial component for artificial intelligence workloads and data-intensive applications.