KUALA LUMPUR (Nov 19): Solarvest Holdings Bhd's (KL:SLVEST) net profit doubled in the second quarter ended Sept 30, 2025 (2QFY2026) due to the ongoing execution of several utility-scale solar projects under the Corporate Green Power Programme (CGPP). 

Net profit attributable to owners of the company grew to RM18.73 million, up 103% from RM9.2 million a year ago, according to a bourse filing. Earnings per share were 2.34 sen versus 1.31 sen a year earlier. 

Revenue increased to RM169.47 million from RM103.91 million.

No dividends were declared for the quarter under review.

For the first half of the year, earnings doubled to RM34.6 million from RM17.04 million.

Revenue increased 74% to RM307.21 million from RM176.56 million.

As of Sept 30, 2025, the group’s unbilled order book stood at RM1.33 billion, which will be progressively recognised in the financial years ending March 31, 2026 and 2027. 

Moving forward, the group remains focused on expanding its order book by leveraging opportunities from the four-gigawatt LSS5 and LSS5+ quota. 

Additionally, the government’s latest initiatives such as the BESS and SELCO programmes present new avenues to strengthen the group’s project pipeline and support its long-term growth in Malaysia’s renewable energy sector. 

Under the Powervest programme, the group has secured a cumulative capacity of 130MWp from multiple corporate power purchase agreements, which is expected to contribute RM50.4 million annual recurrent revenue to the group upon full completion within the next 12 to 18 months. 

Barring any unforeseen circumstances, the board is of the view that the group’s overall performance would remain satisfactory for the coming financial year.