Celcomdigi 1q Net Profit Improves To Rm376.46 Mln

KUALA LUMPUR, May 28 (Bernama) -- CelcomDigi Bhd's net profit for the first quarter ended March 31, 2024 (1Q FY2024) rose to RM376.46 million from RM317.92 million in the corresponding quarter last year.

Revenue, however, declined slightly to RM3.15 billion from RM3.18 billion previously, said the telco in a filing with Bursa Malaysia today. 

In a statement, CelcomDigi said focus on providing better value for customers through refreshed 4G and 5G plans and converged offerings led to healthy postpaid and Home & Fibre subscriber growth, bringing its total subscribers to 20.5 million, an increment of 174,000 year-on-year.

It is ahead of schedule on its network integration and modernisation programme to build Malaysia’s leading digital network, with over 7,200 sites modernised as at end April 2024.

"These efforts have improved overall network experience – more than 80 per cent of customers in post consolidation areas have experienced improvements in signal quality and network throughput, delivering average nationwide download speeds at above 67Mbps," it said.

It is anticipated that by end-June 2024 it will cross the 50 per cent completion mark in seven states, and would have completed the exercise in Penang.

 Chief executive officer Datuk Idham Nawawi said the 1Q FY2024 underlying performance was resilient, as it maintained a steady core revenue while sustaining growth on subscriber base and improving profitability.

"In this second year of operation post-merger, our focus is on building strong fundamentals for the future to achieve profitable growth, leveraging technology and competencies.

"We continue to step up transformation and integration activities on all fronts and remain steadfast in delivering best-in-class customer experiences, powered by a progressive and efficient organisation,” he said.

The company has declared a first interim dividend of 3.5 sen per share, equivalent to the payout in 4Q FY2023 of RM411 million and in line with its sustainable dividend commitment to shareholders. 

-- BERNAMA