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CelcomDigi net profit jumps to RM317.92 million
Published on: Thursday, May 25, 2023
By: Bernama
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CelcomDigi net profit jumps to RM317.92 million
Idham said Celcomdigi is excited about the prospect of 5G and looks forward to playing a more active and direct role in implementing the country’s 5G network, on the back of delivering the widest, most modern 4G network in Malaysia.
Kuala Lumpur: CelcomDigi Bhd recorded a higher net profit of RM317.92 million for the first quarter ended March 31, 2023 (1Q) compared with RM236.15 million in the same quarter last year, thanks to the enhanced customer offerings and stronger network quality.

Revenue jumped to RM3.18 billion from RM1.52 billion previously, while basic earnings per share slipped to 2.71 sen from 3.04 sen.

The company declared a first interim dividend of 3.2 sen per share, amounting to RM375 million.

In a statement Wednesday, the country’s largest mobile network operator said it recorded positive topline and bottom-line growth, generating a healthy free cash flow of RM696 million.

Service revenue grew 0.9 per cent year-on-year to RM2.67 billion, while earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 3.4 per cent y-o-y to RM1.5 billion with a solid EBITDA margin of 47.5 per cent.

Normalised profit after tax, excluding the effects of accelerated depreciation (non-cash items), increased 16.0 per cent y-o-y to RM579 million.

“CelcomDigi has accelerated its integration activities and continued to focus on bringing improved customer experience through enhanced products and services.

After an accelerated capital expenditure (capex) spend in the fourth quarter of its financial year 2022 (FY2022) during the integration planning phase, the company further invested RM108 million in capex in 1Q FY2023 to cater for increased capacity requirements.”

Chief Executive Officer Datuk Idham Nawawi said that the company is pleased with the positive results in 1Q, having performed in line with its guidance.

“We maintain strong fundamentals to operate as a high-performing company, practising operational excellence. We are accelerating integration efforts across the board, focusing on bringing the benefits of the merger to our customers in the shortest time possible.

“Organisational integration efforts are on track, and the company has been operating as a single entity since Day 1, with a single management team and sharp focus on bringing the best of both brands with improved offerings, network and retail experiences to our 20.2 million customers,” he said.

Idham said Celcomdigi is excited about the prospect of 5G and looks forward to playing a more active and direct role in implementing the country’s 5G network, on the back of delivering the widest, most modern 4G network in Malaysia.

“We also remain committed to driving growth in convergence and enterprise solutions, leveraging new technologies and partnerships in 5G, Artificial Intelligence and Internet of Things solutions – there is a lot that customers can expect from us going forward,” he added.

At lunch break, shares of Celcomdigi rose 1.14 per cent to RM4.44 with 632,100 shares changing hands.

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