DiGi’s Q3 net profit eases to RM320m

by BERNAMA / pic by TMR FILE

DiGi.com Bhd’s net profit eased to RM320.75 million in the third quarter ended Sept 30, 2020 (Q3 2020), from RM356.04 million in Q3 2019.

Revenue, however, rose to RM1.57 billion from RM1.56 billion previously, driven by a wider range of innovative product launches and digital solutions calibrated to suit customers’ connectivity needs, the telecommunication provider said in a statement today.

It added that its basic earnings per share slipped to 4.13 sen compared with 4.58 sen in Q3 2019.

DiGi said its data usage patterns had stabilised during the quarter, resulting in a marginal 3.9 per cent quarter-on-quarter contraction in total data traffic volume.

“We also observed a steady geographical shift of usage to commercial areas as economic sectors and commercial centers reopened in stages, post-lockdown,” it said.

On outlook, it said the industry continued to face unmatched headwinds due to the third wave of COVID-19 in Malaysia and the pandemic’s unascertained effect on the economy.

“As such, we are adjusting our 2020 guidance to reflect this uncertain period, considering the ongoing Enhanced or Conditional Movement Control Order in certain states and districts, and its impact to our physical stores and channels,” it added.