Malaysia's Top Glove posts record quarterly profit in Q1

Malaysia's Top Glove Corp on Wednesday posted a 30-fold jump in first-quarter net profit bolstered by continued high demand for gloves, operational efficiencies, and higher selling prices.

Net profit for the September-November period grew 2,030% to 2.38 billion ringgit ($585.49 million) from 111.4 million ringgit a year ago, the world's largest glove manufacturer said in a filing to Malaysia's bourse.

Revenue rose 294% to 4.76 billion ringgit.