PETALING JAYA: TIME Dotcom Bhd
(TDB) remains committed to expanding its coverage footprint and investing in its network.
Concurrently, the group said it will continue to optimise operations and enhance its approach to delivering market-leading products and services across all customer segments, whilst continuing to reinforce its sustainability commitment, it said in a Bursa Malaysia filing.
For the second quarter ended June 30, 2024 (2Q24), TDB’s net profit plunged to RM99.05mil from RM2.26bil in the previous corresponding period, while Revenue in 2Q24 improved to RM418.49mil from RM389.20mil a year earlier.
TDB said one-off non-recurring revenue of RM7.6mil was recorded from cloud and other services in 2Q24.
“Excluding one-off non-recurring revenue for better comparability, consolidated revenue increased by RM29.3mil or 7.7% in the current quarter.
“Solid year-on-year recurring revenue growth was recorded across all customer groups, with the largest growth coming from retail, followed by wholesale and enterprise customers.”
Basic earnings per share stood at 5.36 sen compared with 123.08 sen previously.
For the six-months period ended June 30, 2024, TDB’s net profit dropped to RM209.72mil from RM2.38bil in the previous corresponding period, while revenue rose to RM836.25mil from RM757.62mil a year earlier.
TDB said this can be attributed to higher revenue leading to stronger operating performance, lower write-offs and impairments and higher interest income.
The group declared a special interim tax exempt (single tier) dividend of 18.93 sen per ordinary share, amounting to a total payout of approximately RM350mil. The dividend will be paid out on Sept 25, 2024.
Cognisant of external and other factors that could impact performance and long-term growth, the group said it will stay vigilant regarding developments in the landscape both domestically and globally.
“In so doing, the group shall continue to proactively carry out robust risk mitigation in addition to augmenting its commitment to sustainability.”
