KUALA LUMPUR, Nov 18 (Bernama) -- CelcomDigi Bhd posted a slightly lower net profit of RM436.98 million for the third quarter ended Sept 30, 2024 (3Q 2024) compared to RM455.72 million in the previous corresponding quarter.
Revenue, however, increased to RM3.13 billion from RM3.10 billion recorded in 3Q 2024, driven by effective market execution and operational excellence.
For the nine months of 2024 (9M 2024), the group recorded a higher net profit of RM1.22 billion compared to RM1.12 billion in 9M 2023, while revenue fell slightly to RM9.40 billion from RM9.41 billion previously.
In a Bursa Malaysia filing, CelcomDigi reported solid progress on its integration and transformation initiatives across retail, network, and IT, driving synergy realisation and elevating customer experiences.
“Steady 3Q 2024 growth performance was driven by resilient underlying profitability from growing quality subscribers,” it said.
CelcomDigi chief executive officer Datuk Idham Nawawi said the company continues to step up customer excellence by consistently offering best-value products, as well as enriching customer experience through enhanced network and a fresh, ‘digital-everything’ retail model.
“Our resilient 3Q performance is a result of our continued focus on profitable and sustainable growth, disciplined cost management, and our ability to continue realising synergies from the merger,” he added.
CelcomDigi said its network integration and modernisation efforts are now close to 70 per cent complete, with over 10,500 sites modernised by end-October 2024, and more than 65 per cent of customers benefitted from improved quality of experience on the new CelcomDigi intelligent network.
The company aims to complete 75 per cent of network upgrades by the end of 2024, ahead of its target.
Meanwhile, the group also declared a third interim dividend of 3.6 sen per share or RM422 million, the highest in the last four quarters, which will be paid on Dec 23, 2024.
At lunch break today, CelcomDigi’s share price rose four sen to RM3.37 with a total of 997,700 shares traded.
-- BERNAMA
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