KUALA LUMPUR (Aug 25): Khind Holdings Bhd emerged among the top gainers at mid-morning today, rising 28 sen or 13.21% to RM2.38 this morning, after its net profit surged 65.85% year-on-year to RM5.42 million in the second quarter ended June 30, 2016 (2QFY16).

At 10.45am, the electrical home appliances manufacturer remained at RM2.38, which was the highest level so far. The counter saw 66,500 shares changed hands.

Yesterday (Aug 24), Khind announced on Bursa Malaysia that the group's quarterly net earnings jumped to RM5.42 million from RM3.27 million, underpinned by pre-Hari Raya sales and improvement in gross margin.

The group recorded revenue of RM104.58 million for 2QFY16, an increase of 19.8% compared to RM87.28 million in the previous corresponding quarter.

"Despite the challenging business condition, we are pleased with the outstanding performance achieved in the current quarter, which was mainly attributed to the increase in sales during the pre-Hari Raya month and the improved gross margin contribution," it said.

For the first half ended June 30, 2016 (1HFY16), the group's net profit more than doubled to RM6.82 million from RM2.76 million a year ago, while its revenue grew to RM188.55 million from RM161.41 million.

The board expects the group's outlook for the year to remain challenging but is confident the group will continue to perform well in the coming quarter.