KUALA LUMPUR: Human capital management (HCM) solutions and technology provider Ramssol Group Bhd posted stronger financial results for the second quarter ended June 30, 2021 mainly driven by the continuity of projects for the provision of HCM technology applications in Malaysia.

       It had last Friday posted RM2.01mil in profit before tax (PBT), up from 136% from the RM850,000 in 1QFY21. Net profit was up 136.9% to RM1.99mil from RM840,000 in 1Q.

       Ramssol said revenue grew by 51.7% to RM7.71mil from RM5.08mil recorded in the first quarter.

       In terms of geographical segmentation, Malaysia and Singapore were the main contributors. Malaysia contributed 85.4% or RM6.59mil to revenue, followed by Singapore at 8.30% or RM640,000.

       Group managing director and CEO Cllement Tan Chee Seng said “Covid-19 related uncertainties continue to pose risks to most businesses and different countries have their own iterations of lockdowns that have led to most companies adopting a work-from-home policy.

       “Likewise, educational institutions have also adopted a home-based study curriculum. The new normal accelerating these business trends presented us opportunities and we believe the demand for HCM solutions and technology applications will continue to grow substantially,” he said.