KUALA LUMPUR: CelcomDigi Bhd posted a slightly lower net profit of RM436.98 million for the third quarter ended Sept 30, 2024 (3Q 2024) compared to RM455.72 million in the previous corresponding quarter.
According to BERNAMA News Agency, the company’s revenue increased to RM3.13 billion from RM3.10 billion recorded in 3Q 2024, attributed to effective market execution and operational excellence. Despite the quarterly dip, CelcomDigi’s net profit for the first nine months of 2024 (9M 2024) rose to RM1.22 billion, up from RM1.12 billion in 9M 2023, while revenue saw a slight decrease to RM9.40 billion from RM9.41 billion previously.
In its Bursa Malaysia filing, CelcomDigi highlighted progress in its integration and transformation initiatives, which span retail, network, and IT sectors, contributing to synergy realisation and an enhanced customer experience. The company emphasized the role of resilient underlying profitability powered by a growing base of quality subscribers in driving its steady 3Q 2024 growt
h performance.
Datuk Idham Nawawi, CelcomDigi’s chief executive officer, expressed the company’s ongoing commitment to customer excellence by offering best-value products and elevating the customer experience through an enhanced network and a modern, digital-focused retail model. Nawawi attributed the resilient 3Q performance to a focus on profitable and sustainable growth, disciplined cost management, and continuous synergy realisation following the merger.
CelcomDigi reported that its network integration and modernisation efforts are nearing 70 per cent completion, with over 10,500 sites modernised by end-October 2024. More than 65 per cent of customers have experienced improved quality on the new CelcomDigi intelligent network. The company aims to complete 75 per cent of network upgrades by the end of 2024, surpassing its initial target.
Additionally, the group declared a third interim dividend of 3.6 sen per share, amounting to RM422 million, marking the highest in the last four quarters, to be paid on
Dec 23, 2024. At the midday break, CelcomDigi’s share price increased by four sen to RM3.37, with 997,700 shares traded.