TIME DOTCOM'S Q3 EARNINGS SHRINK TO RM65.95 MLN

KUALA LUMPUR, Nov 26 -- TIME dotCom Bhd’s (TIME) net profit for the third quarter (Q3) ended Sept 30, 2020, fell to RM65.95 million from RM82.99 million posted in the same quarter last year.

Revenue, however, rose 11.3 per cent to RM309.55 million from RM278.16 million previously, it said in a filing with Bursa Malaysia today.

TIME said the increase in revenue was mainly due to higher recurring data revenue, which grew RM26.6 million (or 11.8 per cent) and data centre revenue, which grew RM4.5 million (or 13.0 per cent) respectively.

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It said all core customer groups also registered solid year-on-year recurring revenue growth with the largest growth contributions seen coming from retail and wholesale customers.

On its prospects, the group said it remained steadfast in its commitment to ensure 100 per cent network availability and stability throughout these challenging times for the country.

“Over the medium term, the group will continue to focus on supporting the Malaysian government to achieve its national telecommunications objectives by strengthening and improving its existing domestic fibre network infrastructure, whilst at the same time intensifying efforts to expand its coverage footprint throughout the country.

“The group will also work to increase market share by delivering fast, reliable, and unparalleled quality network experience at competitive prices, and by understanding and providing meaningful solutions and services to all its customers,” it said.

On the regional front, TIME will continue to work with its partners in Thailand, Vietnam, and Cambodia to focus on tapping the increasing demand for cross-border connectivity across the region.

-- BERNAMA