KUALA LUMPUR: Censof Holdings Bhd’s net profit fell 78.1% RM1.78mil in the first quarter ended June 30 (Q1’21) from RM8.12mil a year ago dragged by the loss on fair value adjustment of RM2.05mil on short-term investment in Dagang Nexchange Bhd (DNeX).

       In a filing with Bursa Malaysia, the technology holdings company said excluding the fair value adjustment on DNeX, the group would have posted a significant growth with an adjusted profit after tax of RM4.3mil in Q1’21, against the adjusted loss after tax of RM0.8mil a year ago.

       The group’s revenue jumped 59.5% to RM21.05mil in the quarter compared with RM13.20mil in the corresponding period a year ago driven by strong organic growth of the financial management solutions for the government (FMS–G) and the financial management solutions for the commercial and small-medium-enterprise (FMS–C&SME) divisions.

       For the quarter, revenue from FMS–G and FMS–C&SME divisions were RM12.8mil and RM6.8mil respectively, versus RM8.3mil and RM4.3mil generated a year ago, it said.