KUALA LUMPUR (June 23): Nexgram Holdings Bhd's third quarter net loss narrowed to RM277,195 from a net loss of RM3.67 million a year earlier, as operating expenses fell.
 
IT firm Nexgram is also in the video surveillance equipment business and property development. In a statement to Bursa Malaysia today, Nexgram said revenue dropped to RM11.51 million in the third quarter ended April 30, 2017 (3QFY17), from RM13.64 million.

Nexgram said revenue fell "mainly on revenue reduction" from its IT, besides security and video surveillance equipment subsidiaries. 

According to Nexgram's income statement, the company's operating expenses fell to RM7.68 million, from RM12.5 million.

For 9MFY17, Nexgram said net loss stood at RM8.76 million, on revenue of RM34.6 million. "There was no comparative financial information available for the preceding year-to-date 30 April 2016, due to change in the current financial year end from 30 April to 31 July," Nexgram said.

Looking ahead, the company said it plans to focus on its existing businesses, due to uncertainties ahead.

"As part of on-going business rationalisation and a continuation of the group’s long term growth strategy, the group is in the midst of securing new projects for property, construction and logistics businesses," Nexgram said. — theedgemarkets.com

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