06 FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024 FINANCIAL STATEMENTS NOTES TO THE DATASONIC GROUP BERHAD 174 40. INCOME TAX EXPENSE (CONT’D) A reconciliation of the income tax expense applicable to the profit before taxation at the statutory tax rate to the income tax expense at the effective tax rate of the Group and of the Company is as follows:- Group Company 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Profit before taxation 122,476 108,183 84,764 49,451 Tax at the statutory tax rate of 24% 29,394 25,964 20,343 11,868 Tax effects of:- Non-deductible expenses 2,721 1,894 717 2,292 Non-taxable income (1,241) (984) (20,684) (13,861) Effect of reinvestment allowance (1,018) (616) - - Income tax exempted from tax due to pioneer status - (707) - - Deferred tax liabilities recognised due to expiration of pioneer status - 5,037 - - Deferred tax asset not recognised during the financial year 1,042 720 - 132 Utilisation of deferred tax assets previously not recognised (658) - (26) - Effects of differential in tax rates of subsidiary 67 195 - - (Over)/Underprovision in the previous financial year: - current taxation (451) 108 (68) 41 - deferred taxation 388 227 - - Income tax expense for the financial year 30,244 31,838 282 472 Domestic income tax is calculated at the Malaysian statutory tax rate of 24% (2023 - 24%) of the estimated assessable profit for the financial year. The taxation of other jurisdictions is calculated at the rates prevailing in the respective jurisdictions. 41. EARNINGS PER SHARE Group 2024 2023 Profit attributable to owners of the Company (RM’000) 92,256 76,367 Weighted average number of ordinary shares in issue (’000) 2,816,287 2,850,789 Basic earnings per share (sen) 3.28 2.68 Diluted earnings per share (sen) 3.28 2.68 The diluted earnings per share is equal to the basic earnings per share because there were no potential ordinary shares as at the end of the reporting period.
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