TIME dotCom reports 20% increase in revenues in 3Q13

22 Nov 2013

Malaysian alternative operator TIME dotCom (TdC) has published its financial results for the three months ended 30 September 2013, with the operator reporting a 19.8% year-on-year increase in turnover, as revenues in all business segments improved. For the quarter under review, TdC generated a total turnover of MYR131.9 million (USD40.6 million), up from MYR110.1 million in the same period a year earlier. Revenues attributed to the company’s wholesale and enterprise unit rose by 28% and 12%, respectively, while its SME and consumer segment saw turnover increase by 22% when compared to 3Q13. TdC also attributed its higher turnover to what it called its ‘innovative bundling packages’ for data, voice and data centre solutions.

EBITDA in the year to date stood at MYR143.1 million, up by 42% compared to same period a year earlier. Operating profit in the first nine months of 2013, meanwhile, grew by 65% y-o-y to MYR89.1 million on the back of the telco’s increased revenues, while also driven by a full nine-month consolidation of data centre and global bandwidth revenues in the current year. Operating profit margins for the nine months ended 30 September 2013 improved from 18% a year ago to 22%, due to revenue growth and operating efficiencies which TdC claimed demonstrated the efficacy of its business strategies. Core profit before tax in 9M13 was MYR87.9 million, up from MYR55.2 million a year earlier.

Commenting on the financial performance, Afzal Abdul Rahim, TdC’s chief executive officer, said: ‘We entered the year with a clear strategy to meet and satisfy local and regional demand for data … More than halfway through the year, we are pleased that our strategy is working well. In store are many more initiatives to keep the momentum going.’

Malaysia, TIME dotCom