Elsoft dips 2.25% as 2QFY19 earnings decline 47%

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KUALA LUMPUR (Aug 19): Elsoft Research Bhd shares dipped 2.25% this morning after its 2QFY19 net profit declined 47.65% to RM6.29 million from RM12.01 million last year.

At 9.17am, Elsoft dipped 2 sen to 87 for a market capitalisation of RM581.22 million.

Elsoft’s quarterly revenue declined 48.94% to RM12.33 million from RM24.15 million.

First-half net profit fell 44.39% to RM11.18 million from RM20.1 million last year. Revenue also shrank 44.78% to RM22.22 million from RM40.64 million.