PETALING JAYA: Greatech Technology Bhd’s net profit grew 24.8% to RM28.97mil for the third quarter ended Sept 30, 2021, from RM23.22mil in the corresponding quarter last year.

       The company attributed the increase in earnings to higher realised and unrealised foreign exchange and lower administrative and marketing expenses.

       For the quarter in review, Greatech’s revenue rose 25.7% to RM95.33mil from RM75.82mil, driven by the electric vehicle (EV) energy storage industry.

       For the nine months to September 2021, net profit almost doubled to RM113.97mil from RM59.33mil in the previous corresponding period, while revenue jumped 76.9% to RM326.83mil from RM184.78mil.