KUALA LUMPUR (Nov 29): Eversendai Corp Bhd's net profit for its third quarter ended Sept 30, 2018 has declined by 36.92% to RM13.14 million or 1.68 sen earnings per share from RM20.83 million or 2.69 sen earnings per share a year ago.

The lower profit was mainly due to the discontinued operations of its 60% subsidiary Perisai Kuasa Sdn Bhd, which was announced in May this year, according to the group's Bursa Malaysia filing.

Quarterly revenue fell by 3.81% year-on-year to RM423.21 million from RM449.32 million.

For its cumulative nine-month period (9MFY18), profit dipped by 10.93% to RM50.5 million from RM56.7 million a year ago, mainly due to lower revenue recognised and higher finance cost incurred during the current financial period to date.

Cumulative revenue fell by 7.47% to RM1.21 billion from RM1.31 billion mainly because the contribution from India's DLF IT Park project dropped to RM150.1 million from RM174 million a year ago.

Moving forward, Eversendai said it had secured approximately RM1.1 billion new contracts during the nine-month period. Its order book stood at approximately RM2.4 billion as at Sept 30.

Some 56.3% of the jobs secured are from the Middle East region, 20.7% from Malaysia, 16.7% from India and the remaining 6.3% from the oil and gas segment.

"With the current order book in hand, it ensure steady revenue stream for the future," the group said.

At 2.57pm, Eversendai's share price fell 2.5 sen or 4.17% to 57.5 sen with 434,000 shares done. Its market capitalisation is currently at RM449.07 million.