For Q2 2021, its plantation segment recorded a profit of RM340.3 million — 94 per cent higher than Q2 2020’s profit of RM175.3 million, mainly due to higher crude palm oil and palm kernel prices realised as well as a higher share of associate’s results. — Picture by Yusof Mat IsaKUALA LUMPUR, Feb 23 — IOI Corp Bhd’s net profit rose to RM355.70 million in the second quarter ended December 31, 2020 from RM213.50 million in Q2 2020, mainly due to contributions from its plantation segment.
Meanwhile, its revenue for the quarter jumped to RM2.45 billion from RM1.96 billion in the same quarter the previous year. Meanwhile, IOI Crop said the resource-based manufacturing segment’s profit of RM21.2 million for the quarter was 29 per cent lower than the profit recorded in Q2 2020, mainly due to lower contribution from the oleochemical sub-segment.