Digi FY21 net profit slips to RM1.16 bln

KUALA LUMPUR, Jan 28 -- DiGi.Com Bhd’s (Digi) net profit for the financial year ended Dec 31, 2021, fell to RM1.16 billion from RM1.22 billion chalked up in the preceding year.

Revenue for the year rose to RM6.34 billion from RM6.15 billion, the telecommunications company said in a filing with Bursa Malaysia today.

For the fourth quarter ended Dec 31, 2021, its net profit stood at RM304.55 million versus RM280.19 million, while revenue for the period under review inched up 1.5 per cent year-on-year (y-o-y) to RM1.58 billion from RM1.56 billion.

The increase in total revenue was attributed to the healthy devices revenue growth and positive momentum in core segments.

Digi chief executive officer Albern Murty said the company delivered its 2021 priorities amid the current business environment, by emphasising improved network and digital experiences for customers and driving efficiencies across operations.

“We also remain committed to supporting pandemic and flood relief efforts through various community-focused initiatives and relief aid, and in keeping our customers connected,” he said in a separate statement.

Meanwhile, Digi’s capital expenditure (capex) expanded to RM291 million to close FY2021 with a total of RM814 million or 12.8 per cent of total revenue, close to the guiding of 13 to 14 per cent.

“Digi continued to execute disciplined capital allocation process, prioritising robust Long-Term Evolution (LTE) and LTE-A network coverage to support national digitalisation plans whilst enhancing our digital capabilities,” Murty added.

-- BERNAMA