Leading Malaysian garment producer and exporter Jerasia Capital Bhd on Thursday posted a sharp fall in first quarter net profit to RM1.2 million compared to RM3.2 million in the year-ago period.

The company, which generates around 80 per cent of its turnover from exports, said the plunge was due to the global economic slowdown in the wake of September 11 but said it was expecting a solid performance in the remainder of the year.