DiGi’s Q4 net profit slips to RM280 mln

KUALA LUMPUR: DiGi.com Bhd’s net profit eased to RM280.17 million in the fourth quarter ended Dec 31, 2020 (Q4 2020), from RM342.92 million in Q4 2019.

Revenue also slid to RM1.56 billion from RM1.67 billion previously, despite growth in internet and digital contribution, it said in a filing with Bursa Malaysia today.

The telecommunication service provider said service revenue trimmed 6.1 per cent year-on-year (y-o-y) to RM1.35 billion on reduced non-internet and voice usages as overall consumer spend, inflows of foreign workers and economic activities weakened on the back of ongoing conditional movement control order (CMCO) in certain states and districts.

“The y-o-y contribution was also adversely impacted by poor roaming activities on closed international borders.

“Nevertheless, our Malaysian active subscriber base enlarged 1.7 per cent quarter-on-quarter and 5.9 per cent y-o-y, above pre-lockdown levels to offset shrinking migrant base,” it said.

Meanwhile it said internet and digital revenue rose 8.7 per cent y-oy yielded by improved overall data usages and strong take-ups from gaming activities and digital services.

On outlook, it said the company will prioritise on accelerating growth in core and digital businesses to re-capture the need for connectivity across prepaid, postpaid, business to business, and fibre-to-the-home segments.

It would also invest in network and information technology infrastructure modernisation to enhance customer experience and driving financial sustainability via structural efficiency initiatives and cost containment efforts. – Bernama