Time dotCom's net profit rises to RM118.74 mil in Q3 on higher overall revenue

KUALA LUMPUR - Time dotCom Bhd’s net profit rose to RM118.74 million in the third quarter ended Sept 30, 2022 (Q3FY2022) from RM100.54 million a year ago on higher overall revenue growth, higher net gain on foreign exchange and higher share of profit from associates.

Revenue increased by 17.5 per cent to RM407.57 million from RM346.77 million previously.

"All core customer segments contributed to revenue growth led by retail and wholesale segments. The group also saw continued healthy demand for its data and data centre offerings,” it said in a filing with Bursa Malaysia today.

For the nine-month period, Time dotCom recorded a net profit of RM327.67 million from RM284.57 million while revenue improved by 12.2 per cent to RM1.15 billion from RM1.02 million previously.

It said operational and financial performance remained strong in nine-month of 2022 driven by the sustained demand for its products and service offerings, a trend seen across all core customer segments.

On prospects, Time dotCom said it would continue to sustain operational resilience and capture business opportunities. - BERNAMA