DRB-Hicom's revenue jumped 119% to RM 3.46 billion (US$ 1.1 billion) in the first quarter ended June 30, 2012 from RM 1.58 billion a year ago after it included Proton Holdings.

However, it said on Monday that earnings were lower at RM 32.60 million from RM 91.06 million a year ago due to higher finance cost following the Proton acquisition and losses incurred by Lotus. DRB-Hicom completed its 100% acquisition of Proton on June 26.

DRB-Hicom said that earnings per share were 1.69 sen compared with 4.71 sen.

"Overall, the financial performance of the group's operating companies for the quarter under review remains stable," it said.

DRB-Hicom group managing director Datuk Seri Mohd Khamil Jamil said the impact of Proton's acquisition on the group's bottomline was transient.

"With the recent addition of Proton into the group, there is tremendous potential to realise a number of synergistic opportunities for us," he said.

Khamil said DRB-Hicom was looking to implement several initiatives to improve cost effectiveness, quality and delivery efficiency to further enhance the group's performance.

He pointed out these initiatives were targeted to ensure growth and profitability for both Proton and the group.