Grand Venture Technology net profit down 61.6% to $1.3 million for 3QFY2023 as semicon headwinds persist

Manufacturer Grand Venture Technology JLB (GVT) JLB has reported a net profit of $1.3 million for its 3QFY2023 ended Sept 30, a 61.6% slump compared to its net profit for the same period last year.

Revenue for the period also fell 13.4% to $28.5 million, with a decrease in business activity in GVT’s back-end semiconductor and electronics segments year-to-date.