KUALA LUMPUR (Dec 16): ECM Libra Financial Group Bhd raked in a net profit of RM21.45 million in its third financial quarter ended Oct 31, 2014 (3QFY15), over four times the RM4.93 million it recorded in the previous corresponding period, on higher gain on disposal of securities and dividend income.

Its revenue was RM25.08 million, from RM7.64 million in 3QFY14. Earnings per share had also increased more than fourfold to 8 sen, from 3QFY14’s 1.84 sen, its filing with Bursa Malaysia showed today.

The financial services group noted that its gain on disposal of securities for the quarter was RM17.86 million, while its dividend income was RM1.52 million.

As for its nine months ended Oct 31 (9MFY15), the group’s net profit has more-than-doubled to RM26.09 million, from RM12.63 million a year ago, with revenue at RM36.75 million, up 65.48% from RM22.21 million in 9MFY14.  

ECM Libra attributed the higher profit to portfolio management fees income of RM7.49 million, loan and other fee income of RM2.14 million, and rental income of RM1.02 million, which were partially offset by operating expenses of RM10.59 million.

The group expects stable performance from its fund management and structured lending and advisory activities, as well as positive income contribution from investment insecurities for the remaining period of the financial year ending Jan 31, 2015.

Its counter closed after shedding 0.55% or half sen at 90 sen today, translating to a market capitalisation of RM243.64 million.  

For comparison, the FBM KLCI fell 23.37 points or 1.38% to 1,673.94 points, as concerns on lower crude oil prices weighed on investors.