KUALA LUMPUR (Dec 17): V.S. Industry Bhd shares tumbled in active trade this morning after it posted a 7.1% drop in net profit to RM39.81 million for the first financial quarter ended Oct 31, 2018, from RM42.87 million a year ago, mainly due to a loss on disposal of a subsidiary and foreign exchange loss, resulting in a lower earnings per share of 2.32 sen compared with 2.61 sen previously.

At 9.05am, V.S Industry lost 29.91% or 35 sen to 82 sen with 10.06 million shares traded.

Its quarterly revenue was flat at RM1.08 billion compared with RM1.07 billion a year ago.

Nevertheless, the group declared a first interim dividend of one sen per share, payable on March 12.