KUALA LUMPUR (May 18): TIME dotCom Bhd (TdC)’s net profit went up 26.32% to RM114.51 million in the first quarter ended March 31, 2023 (1QFY2023), from RM90.65 million in the same quarter a year earlier (1QFY2022), amid higher revenue contributions.

In its filing on Bursa, the telecommunications company saw its earnings per share rise to 6.23 sen, from 4.97 sen.

The improved net profit was also due to higher share of profits from associates, foreign exchange net gains, lower donation, as well as lower property, plant and equipment written offs.

Quarterly revenue increased 6.31% to RM368.42 million versus RM346.54 million, due to higher contributions from its data and data centre segments.

Revenue from its data segment increased to RM315.96 million, from RM282.59 million in 1QFY2022.

Its data centre segment brought in RM87.04 million in revenue, compared to RM72.46 million a year earlier.

This was offset by higher staff costs, depreciation & amortisation charge for property, plant & equipment and right-of-use assets, as well as finance costs.

Earlier on April 28, the company declared a special interim tax exempt (single tier) dividend of 54.40 sen per share for the financial year ending Dec 31, 2023 (FY2023).

The dividend is payable on May 26 this year.

TdC’s chief executive officer Afzal Abdul Rahim said strategic decisions continued to yield higher shareholder returns on the back of health profitability and solid fundamentals.

“We are also happy to have closed on the partnership with DigitalBridge for our AIMS data centre business, and look forward to the next chapter on that front,” he said in a statement.

Afzal also added that the group will continue to expand network coverage, while maintaining high reliability and availability of its network.

“This will also be in support of Jendela (Jalinan Digital Negara) and the government’s aspirations to build a strong digital economy in Malaysia.

“In parallel, the group remains focused on enhancing operational excellence and improving customer experience through innovation,” TdC said.

Regardless, the group continues to be vigilant of existing and emerging risks, and the potential impacts that [these risks] may have on the business, Afzal said.

TdC’s share price closed six sen or 1.15% higher to RM5.30 on Thursday (May 18), valuing the company at RM10.80 billion.