Time Dotcom 1Q net profit slips to RM110.67mil

Time commander-in-chief Afzal Abdul Rahim

KUALA LUMPUR: TIME Dotcom Bhd's net profit slipped to RM110.67 million in the first quarter ended March 31, 2024 (1Q 2024) from RM114.51 million in the same period last year, dragged by higher personnel costs, depreciation for property, plant and equipment, as well as lower net foreign exchange gain.

Revenue, however, jumped to RM417.76 million from RM368.42 million previously, supported by growth in all customer groups, with the largest contributed by the enterprise, followed by retail and wholesale customers, the telecommunications service provider said in a filing with Bursa Malaysia today.