KUALA LUMPUR, Nov 26 — TIME dotCom Bhd’s net profit for the third quarter ended September 30, 2021 (Q3 2021) jumped to RM100.54 million from RM65.95 million a year earlier.
Revenue for the quarter under review improved 12 per cent to RM346.77 million from RM309.55 million posted a year ago.
“The increase in Q3 consolidated revenue was mainly due to higher recurring data centre revenue, which grew 74.8 per cent or RM29.1 million, and data revenue, which grew 4.8 per cent or RM12.1 million.
“Year-on-year recurring revenue growth was mainly contributed by retail and enterprise customers,” the telecommunications provider said in a filing with Bursa Malaysia today.
On prospects, demand for TIME’s products and services remains resilient, particularly in the retail and enterprise segments, and the group is optimistic of further growth prospects arising from the nation gradually entering Phase 4 of the National Recovery Plan.
“Domestically, the group remains committed to further expanding its network footprint and innovating to offer high-quality products and services, in line with the government’s objectives to increase broadband coverage and build the digital economy.
“This is reinforced by the coming into operation of the group’s new data centre, AIMS Cyberjaya, which is poised to meet high market demand,” it added.
Regionally, the group said it will continue to strengthen its strategic position in the cloud and data centre space while continuing to meet the cross-border connectivity requirements of its customers. — Bernama