KUALA LUMPUR (Mar 27): Berjaya Corporation Bhd’s net profit for the third quarter ended Jan 31, 2015 (3QFY15), skyrocketed to RM975.41 million from RM15.97 million a year earlier, due to non-operational gains.

In a filing with Bursa Malaysia today, the group said the surge in net profit was due to non-operational gains such as gain on “remeasurement” and gain on disposal of a subsidiary company amounting to RM837.18 million and RM157.54 million, respectively.

Apart from the non-operational gains, BCorp (fundamental: 0.35; valuation: 1.2) said its operating profit decreased compared to a year ago because of lower progress billings registered in the property investment, development segment and the reduced contribution from the BAuto group.

For the 3QFY15, BCorp's operating profit was down 23.4% year-on-year (y-o-y) at RM174.44 million from RM227.75 million.

Revenue, however, fell 6.36% to RM2.21 billion from RM2.37 billion last year due to the deconsolidation of Berjaya Auto Bhd with effect from Dec 1 last year, and property investment and development segment.

For the cumulative nine months (9MFY15), BCorp’s net profit jumped over 10 times to RM1.14 billion from RM90.03 million a year ago.

Revenue also rose 18.02% to RM7.27 billion from RM6.16 billion in 9MFY14.

Going forward, BCorp is optimistic that its operating performance will be satisfactory in the remaining quarter of the financial year ending April 30 this year.

Shares in BCorp closed unchanged at 44 sen, giving it a market capitalisation of RM1.825 billion.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)