PETALING JAYA: TIME Dotcom Bhd
is committed to expanding its coverage footprint and investing in its network.
The group would continue to optimise operations and enhance its approach to delivering market-leading products and services across all customer segments, whilst reinforcing its sustainability commitment, it said in a filing with Bursa Malaysia.
For the second quarter ended June 30, 2024 (2Q24), Time’s net profit plunged to RM99.05mil from RM2.26bil in the previous corresponding period, while revenue in 2Q24 improved to RM418.49mil from RM389.20mil a year earlier.
Time said a one-off non-recurring revenue of RM7.6mil was recorded from cloud and other services in 2Q24.
“Excluding one-off non-recurring revenue for better comparability, consolidated revenue increased by RM29.3mil or 7.7% in the current quarter.
“Solid year-on-year recurring revenue growth was recorded across all customer groups, with the largest growth coming from retail, followed by wholesale and enterprise customers.”
Basic earnings per share stood at 5.36 sen compared with 123.08 sen previously.
For the six-month period ended June 30, 2024, Time’s net profit dropped to RM209.72mil from RM2.38bil in the previous corresponding period, while revenue rose to RM836.25mil from RM757.62mil a year earlier.
Time said this was attributed to higher revenue leading to stronger operating performance, lower write-offs and impairments as well as higher interest income.
The group declared a special interim tax exempt (single-tier) dividend of 18.93 sen per share, amounting to a total payout of RM350mil. The dividend will be paid out on Sept 25, 2024.
