Time Dotcom's 2Q Net Profit Down To RM99.05 Mln, Declares Special Dividend

KUALA LUMPUR, Aug 26 (Bernama) -- Time Dotcom Bhd’s net profit in the second quarter ended June 30, 2024 (2Q FY2024) fell to RM99.05 million from RM2.26 billion in the same quarter last year due to the discontinued operations of AIMS Data Centre business.

In a filing with Bursa Malaysia, the telecommunication group said no profit from discontinued operations was disclosed in 2Q 2024 as the transactions were completed on April 20, 2023.

Revenue was up by 7.5 per cent to RM418.49 million from RM389.20 million previously on the back of the largest growth from retail, followed by wholesale and enterprise customers.

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For the first half of 2024, Time Dotcom recorded a lower net profit of RM209.72 million from RM2.38 billion in the same period last year, while revenue rose by 10.4 per cent to RM836.25 million from RM757.62 million previously.

It declared a special single-tier interim tax-exempt dividend of 18.93 sen per ordinary share, amounting to a total payout of about RM350.0 million. The payment date is Sept 25, 2024.

Time’s commander-in-chief Afzal Abdul Rahim said: “The group’s focus remains on expanding network coverage to reach and deliver the best service experience to our customers. We will continue to keep a close eye on the market to meet evolving market demands.”

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The group remains committed to expanding its coverage footprint and investing in its network.

Concurrently, the group will continue to optimise operations and enhance its approach to delivering market-leading products and services across all customer segments while continuing to reinforce its sustainability commitment.

-- BERNAMA