TIME dotCom Bhd’s earnings for the three-month ended June 30 increased 33 per cent to RM92.7mil from RM69.8 million in the year ago period, on the back of contribution from its data centre and data products business.
Revenue of one of Malaysia’s leading internet service providers, increased14 per cent to RM347 millionin Q3, the company said in a filing with Bursa Malaysia.
Time dotCom said the increase in Q2 2021 consolidated revenue (excluding one-off non-recurring contract revenues) was mainly due to higher recurring data centre revenue, which grew RM27.9 million (or 75.8 per cent) and data revenue which grew RM9.2 million (or 3.7 per cent) respectively.
TIME dotCom added that the year-on-year recurring revenue growth came in with the largest growth contributions seen coming from retail and enterprise customers.
As Malaysia continues to battle COVID-19, remote work has gradually become the new norm in the country. Therefore, surging demand for data storage, greater connectivity, and other internet services can only be handled by cloud technology.
“We are hopeful for a recovery even though headwinds are expected to persist for the near term as the wider economy grapples with the cascading effects of the COVID-19 pandemic,” commander-in-chief Afzal Abdul Rahim said.
In January, TIME dotCom acquired a 60 per cent stake, or $14.5 million (RM58.7 million), in AVM Cloud Sdn Bhd, a private cloud computing company to drive its business.