In a filing with Bursa Malaysia yesterday, Redtone said revenue in the second quarter stood at RM40.39mil from RM40.11mil a year earlier.
PETALING JAYA: Redtone Digital Bhd’s net profit for its second quarter ended Dec 31, 2021, rose to RM10.98mil from RM7.12mil in the previous corresponding period, mainly due to higher gross profit contributed by its managed telecommunication network services (MTNS) segment and higher investment related income.
In a filing with Bursa Malaysia yesterday, the company said revenue in the second quarter stood at RM40.39mil from RM40.11mil a year earlier.
For the six-month period ended Dec 31, 2021, Redtone said its net profit grew to RM19.02mil from RM12.79mil in the previous corresponding period, while revenue improved to RM78.92mil from RM76.31mil a year earlier.
“For the six-month period under review, the group reported a revenue of RM78.92mil, which was 3.41% higher than RM76.31mil reported in the previous year mainly due to higher revenue contributed by MTNS segment.
“The group posted a pre-tax profit for the current period of RM28.37mil, which was 62.7% higher than the RM17.44mil reported in the previous corresponding period mainly due to higher gross profit contributed by the MTNS segment and higher investment related income.”
When compared with the earnings of its first quarter ended Sept 30, 2021, Redtone said the group reported a revenue of RM40.39mil in the quarter under review, which was 4.86% higher than the RM38.52mil reported in the preceding quarter. The company said this was mainly due to higher revenue contributed by its telecommunications services segment.
“The group reported a pre-tax profit of RM15.91mil, which was 27.8% higher than the preceding quarter mainly due to investment income earned from short term investments.
Redtone also said an interim dividend of 1.8 sen per share in respect of the financial year ended June 30, 2021 was paid on Nov 18, 2021.
Commenting on its prospects, Redtone said the Covid-19 pandemic continued to raise concerns over the impact on the Malaysian economy.“The board of directors are of the view that the business and operating performance of the group for the remaining quarters of the financial year ending June 30, 2022 will remain challenging and competitive.”
Redtone said it will continue to adopt measures to improve operational efficiencies and profitability in its core businesses.
“The board expects the contributions from its MTNS segment will remain significant, while data services for the enterprise market would continue to be the main segment of growth from recurring businesses.”
Source: The Star