KUALA LUMPUR (Nov 21): Semiconductor player Inari Amertron Bhd's net profit in the first quarter ended Sept 30, 2017 (1QFY18) grew 42% to RM68.38 million from RM48 million a year ago, boosted by an increasing demand for existing as well as new products that came on stream during the past two quarters.

The group's earnings per share rose to 3.41 sen for the quarter under review, from 2.49 sen previously.

Quarterly revenue climbed 32% to RM373.09 million against RM281.58 million a year ago primarily due to higher demand for its products.

The group proposed a first interim dividend of 2.3 sen a share in respect of FY18, payable on Jan 8 next year.

On FY18 prospects, Inari said the group will continue to deliver positive performance from their continuing manufacturing activities in the Wireless Radio Frequency (RF) and Optoelectronics operations, in line with growth in the global semiconductor market.

"With a good balance of mature and new services and products offerings and barring any unforeseen circumstances, we are optimistic in continuing to deliver profits alongside our growth in revenues for the remainder of the current financial year," it said.

Shares in Inari closed seven sen or 2.41% lower to RM2.83, bringing a market capitalisation of RM5.81 billion.