PETALING JAYA: Telecommunications provider TIME Dotcom Bhd’s net profit eased to RM90.64mil in the first quarter ended March 31, 2022, as compared with RM91.62mil in the same quarter last year.

       The reduced net profit was due to the impact of foreign exchange movements, higher depreciation charged for property, plant and equipment and right-of-use assets, as well as higher staff-related costs.

       The group’s revenue of RM369.4mil saw 11.5% year-on-year growth.

       All core customer groups, namely, retail, enterprise and wholesale contributed to revenue growth, owing to resilient demand for data centre and data offerings from the group, it said.

       “We are happy with the solid start to the year. We are cautiously optimistic that demand for Time’s product and service offerings will continue to chart growth with the reopening of the economy,” Time’s commander-in-chief Afzal Abdul Rahim said in a statement.

       Strategically, the group remains invested in network expansion to support connectivity needs as well as help the nation achieve its digital economy objectives. It saw a solid start to the group’s performance, both operationally and financially. This was reflected in the group’s financial results. — Bernama