shares of mr diy group m bhd are higher after the company eked out a rise in quarterly profit and analysts reiterated buy ratings citing an attractive stock valuation and an improving outlook for profit margins the home improvement retailers shares are up 63 at 186 ringgit in early trading wednesday on track for their biggest oneday rise in more than a year the stock is still down about 26 over the past 12 months mr diy group on tuesday said fourthquarter net profit rose 11 on year to 1361 million ringgit us313 million while revenue rose 93 to myr107 billion mainly due to sales contributions from new stores gross profit margin improved 33 percentage points to 437 driven by higher product prices and lower freight costs with mr diy saying it expects to maintain that level this year amid an improving inflationary climate rhb investment bank analyst soong wei siang maintained a buy rating  saying mr diys share price retracement is overdone with the stock now trading at a steep discount to its largecap consumer peers and below its twoyear mean maybank investment bank analyst jade tam said the companys outlook in 2023 is set to improve amid a better inventory position and labor availability ms tam lowered earnings estimates for 20232024 by 23 due to current operational run rates but kept a buy rating saying the company is on steadier footing operationally on the back of easing freight costs higher product prices and the continued expansion of its store network hong leong investment bank kept a buy rating on the stock while also trimming its 20232024 earnings forecasts noting a 27 rise in operating costs in 2022 on the back of a hike in malaysias minimum wage despite the healthy top line the group is still experiencing pronounced increase in input costs analyst syifaa mahsuri ismail said in a note