KUALA LUMPUR: TIME Dotcom Bhd ’s net profit slipped to RM110.67mil in the first quarter ended March 31, 2024 (1Q24) from RM114.51mil in the same period last year.
Its performance was dragged by higher personnel costs, depreciation for property, plant and equipment, as well as lower net foreign exchange gain.
Revenue, however, jumped to RM417.76mil from RM368.42mil previously, supported by growth in all customer groups, with the largest contributed by the enterprise, followed by retail and wholesale customers, the group said in a filing with Bursa Malaysia.
Time dotCom said it will continue to actively refine its strategies and invest in core businesses to strengthen the value proposition of the said businesses to remain competitive across the retail, enterprise and wholesale segments. — Bernama