Digi records lower net profit of RM220.04 million in 2Q

KUALA LUMPUR: Digi.com Bhd posted a lower net profit of RM220.04 million in the second quarter ended June 30, 2022 (Q2 FY2022) against RM279.91 million in the same period last year.

In a filing with Bursa Malaysia yesterday, it said revenue declined to RM1.54 billion from RM1.62 billion a year ago, as the steady (growth) in postpaid, businessto-business (B2B) and fibre segments from quality acquisitions and attractive bundles were unable to offset weaker prepaid in 2021.

The growth in postpaid of 1.1 per cent was supported by a mobile subscriber base of 183,000 while the the base for the fibre segment was up 17,000 year-on-year (y-o-y), the telco said.

Revenue for the prepaid segment was down 4.2 per cent,” it said.

It declared a second interim tax-exempt dividend of 2.8 sen per share payable on Sept 30, 2022.

On prospects, the company said the first half of the year saw robust domestic economic growth, largely driven by rising demand as economic activities normalised with the easing of containment measures.

“As one of the largest telecommunication and digital service providers in Malaysia, we remain focused and committed to meet the needs of all our customers and to provide Malaysians with reliable access to the best network nationwide.

“We continue to execute our strategic priorities to deliver on our 2022 guidance, while accelerating modernization and digitalisation of internal processes, increasing investments in network improvements, and deepening responsible business commitments,” it said.

Meanwhile, in a press statement, Digi said the second quarter for FY2022 saw the company delivering a steady quarter on the back of improved network performance, catering to customers’ increasing digitalisation needs.

Digi’s acting chief executive officer and chief marketing officer Praveen Rajan said the good traction in fibre and business segments reflects the ability to meet the growing need for reliable, high speed connectivity as digital adoption among consumers and businesses accelerates.

“To support this digitalisation drive, we continue to invest into modernising our network and expanding access to connectivity.

“This sets us in the right pace and direction as we commit to deliver better quality internet experience for our customers, in line with JENDELA’s aspirations, as well as powering Malaysia’s digital economy agenda,” he said.