K1 Ventures' Q1 profit, revenue leap

K1 Ventures reported a big jump in net profit to S$87.33 million for the first quarter ended Sept 30, up from S$3.02 million, on the back of higher revenue.

Revenue rose from S$2.88 million a year ago to S$89.29 million, thanks to higher investment income. Profit before tax came to S$88.32 million, boosted by higher revenue and foreign exchange gains.

Meanwhile, earnings per share clocked 4.03 Singapore cents, versus 0.14 cent in the corresponding period one year earlier.