Foreign exchange loss and income taxes drove the decline.
Thakral Corporation’s net profit declined 4.9% year-on-year (YoY) to $3.36m in Q1 FY2025, even with higher revenue.
Group revenue rose by 26.6% YoY to $76m, led by the lifestyle business, which saw a 27.8% YoY uptick.
The company attributed the net profit drop to foreign exchange loss of $480,000 and an 81.3% increase in income tax to $1.16m.
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