KUALA LUMPUR: TIME Dotcom Bhd’s net profit in the second quarter ended June 30, 2023 rose to RM2.264 billion from RM118.28 million in the same quarter last year on the back of proceeds gained from the discontinued operations of AIMS Data Centre business.

In a filing with Bursa Malaysia, the telecommunication group said the profit earned from the closure of a strategic partnership related to AIMS is worth RM2.262 billion.

As for revenue, Time dotCom said it increased marginally to RM389.200 million from RM351.44 million previously.

“The group is pleased with its first half 2023 performance and we are confident the strategic decisions we have made will continue to yield results for the group in the long run.

“However, we remain vigilant and continue to keep an eye on external conditions that may impact the business,” said commander-in-chief Afzal Abdul Rahim.

The group has declared a single-tier dividend of 16.25 sen per ordinary share, payable on Sept 15, 2023.

Going forward, the group said it is committed to investing in its network, which includes the expansion of its coverage footprint alongside improving operational excellence in order to deliver high network reliability, availability and security for the highest level of customer experience.

Furthermore, the group continuously refines its strategies to capture opportunities that arise to solidify its position across its retail, enterprise and wholesale customer segments, it said.

“The group remains mindful of operational and external challenges which may impact the business.

“The group monitors the same while continuing to carry out risk mitigation and cost management initiatives to ensure the sustainability of its performance,” it added. – Bernama