KUALA LUMPUR: CelcomDigi Bhd posted a higher net profit of RM455.72 million in the third quarter ended Sept 30, 2023 (3Q 2023) against RM264.48 million in the same quarter last year on the back of better cost management and higher service revenue.
Revenue doubled to RM3.1 billion during the quarter from RM1.53 billion previously, a Bursa Malaysia filing said today.
The country’s largest mobile network operator said in a separate statement that the group’s service revenue for 3Q 2023 grew by RM4 million to RM2.71 billion, driven by a subscriber base expansion of 636,000m bringing its total subscribers to 20.6 million.
Total cost for 3Q 2023 declined 4.5 per cent, or RM72 million, from lower regulatory, staff and network-related costs, as well as sales and marketing spend.
“Accordingly, earnings before interest, taxes, depreciation, and amortisation (EBITDA) improved by RM105 million to RM1.57 billion.
“Pre-tax profit and profit after tax were lower by 17.0 per cent and 3.8 per cent, respectively, impacted by accelerated depreciation commencing from the 4Q 2022 following the revision in assets useful life and sites rationalisation under the network integration plan,” the filing said.
Over a nine-month period, net profit surged to RM1.12 billion versus RM720.67 million during the same period a year ago, while revenue jumped to RM9.41 billion against RM4.59 billion in the nine-month period a year ago.
The telco company declared a third interim dividend of 3.3 sen per share, amounting to RM387 million. – BERNAMA
