Aztech’s 1QFY2023 net profit formed 15.6% and 11% of CGS-CIMB Research and DBS Group Research’s full-year forecasts. The foreign exchange loss coupled with inflationary cost pressures had also resulted in gross profit margin falling 4.8% percentage points y-o-y to 22.6% in 1QFY2023 from 27.4% in 1QFY2022.
Analysts are mixed on Aztech Global (SGX:8AZ
) following the announcement of its 1QFY2023 ended March results, which missed expectations due to inflationary pressures and foreign exchange loss.
For its 1QFY2023, Aztech recorded a net profit of $13.4 million. Excluding the impact from a $3.1 million foreign exchange loss, its net profit would have been $16.5 million.
