Astro affected by advertising and subscription decline

PETALING JAYA: Astro Malaysia Holdings Bhd’s began its financial year of 2021 (FY21) with a major dent in earnings as a decline in advertising and subscription as well as higher net finance costs slashed net profit by over 58% year-on-year (y-o-y) in the first quarter ended April 1.

The pay-TV operator said in a filing with Bursa Malaysia that its net profit in the February-April 2020 period dropped to RM73.84mil compared with RM176.2mil in the same quarter a year earlier.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business News

Wall St set for lower open on lingering concerns over elevated rates
Astro revises dividend policy for FY24 onwards
Ringgit ends higher against US dollar on firmer oil prices
Puncak Niaga drops RM14bil suit against Selangor govt
Bina Darulaman to jointly pursue Solar opportunities in Malaysia
Senheng acquires central distribution centre in Klang, Selangor for RM75.8mil cash
Dialog to invest in malic acid plant in Gebeng, Kuantan
FBM KLCI under selling pressure
Indonesia may issue regulations on social media e-commerce this week
Steven Sim: Not the right time to bring back GST

Others Also Read