KUALA LUMPUR: TIME Dotcom Bhd
's net profit for the first quarter ended March 31, 2019, was RM63.13mil, slightly higher than RM62.94mil recorded in the same quarter last year on the back of 13.8% higher revenue of RM262.54mil.
According to the telco, the revenue growth was due to higher sales recorded from all its core product segments.
The data and data centre segments were the leading performers, putting in higher year-on-year revenue of 15.2% and 8.9% respectively.
"All customer groups contributed to growth, led by Retail as a result of continued demand for its TIME Fibre Home Broadband service," said Time in a statement.
Voice revenue grew 4.2% y-o-y due to higher usage in Q1 2019 as compared to Q1 2018, it said.
For the quarter under review, Time recorded a lower net allowance for doubtful debts of RM600,000 as compared to RM2.9mil in the 2018 quarter.
The group's share of profit from investment in associates also rose to RM3.7mil from RM2.9mil in the comparative quarter.
Moving forward, Time is looking to improve its existing domestic fibre network infrastructure while expanding its coverage footprint.
It will also continue to work on a seamless telecomminications network with its regional partners to connect Indochina to Malaysia and Singapore.
“The initiatives that we have put in place will help us to weather a challenging 2019 while we look towards securing future growth,” said Afzal Abdul Rahim, TIME’s Commander-in-Chief.
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