KUALA LUMPUR: CelcomDigi Bhd's net profit rose 72.3 per cent year-on-year (YoY) to RM455.72 million in the third quarter ended Sep 30, 2023 (Q3 2023) from RM264.48 million in the same period last year in line with higher revenue.
The company registered a 102.7 per cent jump in its revenue to RM3.1 billion versus RM1.53 billion a year ago on the back of higher service revenue which grew by RM4 million driven by subscriber base expansion of 636,000.
Prepaid revenue increased from higher internet subscription as well as solid growth in subscriber base, while home fibre segment's growth momentum continued with strong take-up of new high-speed fibre plans and add-on offerings in Q3 2023, softening the impact of lower revenue from postpaid segment with slower traction for on-demand data.
Total cost for Q3 2023 declined 4.5 per cent or RM72 million from lower regulatory, staff and network related costs, as well as sales and marketing spend.
For the cumulative nine-month period, the company's net profit rose to RM1.12 billion versus RM720.67 million in the same period last year from higher device sales and service revenue.
While, revenue jumped 104.8 per cent to RM9.41 billion from RM4.59 billion in the corresponding period last year.
Service revenue grew 0.3 per cent or RM21 million to RM8.12 billion driven by steady growths in prepaid and home fibre segments on the back of continuous subscriber base expansion, while wholesale segment was impacted by lower contributions from wholesale partners and postpaid segment's growth was impeded by the drop in interconnect rate effective in and slower traction for on-demand offerings.
Moving forward, the company noted that the full-scale network integration programme that commenced in April 2023 have uplifted network performances with wider coverage and improved download speeds.
"The company is accelerating these integration activities, with the latest 4G and 5G-ready technologies aiming to offer customers a significantly elevated quality of experience, improving reach from 96 per cent to 98 per cent of populated areas nationwide.
"CelcomDigi is also actively spurring digitalisation and 5G adoption among consumer and businesses through its affordable 5G device bundles and MY5G series, spearheading 5G thought leadership and promoting SME digitalisation.
"New strategic partnerships with various industry leaders and partners enabled us to unlock the best innovation beyond telecommunication services to customers in the age of "digital-everything," it stated in its Bursa Malaysia Securities filing.