KUALA LUMPUR, May 28 — TIME dotCom Bhd’s (TIME) net profit for the first quarter ended March 31, 2021 (Q1) fell to RM91.35 million from RM97.96 million posted in the same quarter last year due to lower net gain on foreign exchange.
Revenue, however, rose to RM331.32 million from RM 293.95 million previously, it said in a filing with Bursa Malaysia.
In a separate statement, TIME said the year-on-year revenue growth was mainly attributed to higher revenue from data centre and data product groups.
Commander-in-chief Afzal Abdul Rahim said TIME remained cautious and vigilant of the continuing challenges as a result of the protracted Covid-19 pandemic despite the steady operational and financial results the group had delivered.
“We will continue to prioritise network availability and stability for our customers throughout this difficult period, where remote working and learning are an ever-growing part of our daily lives,” he said.
TIME said it will continue to monitor the impact of the pandemic on the larger economy as it strengthens and improves its existing network infrastructure and expands its coverage footprint towards its goal of providing a quality network experience.
The company is constantly innovating to deliver quality, meaningful solutions and services to its customers as demonstrated by the acquisition of a 60 per cent stake in AVM Cloud and the upcoming completion of its data centre in Cyberjaya.
“Both are aimed at strengthening the group’s strategic position in the cloud and data centre segments to support the group’s long-term growth,” it said. — Bernama
