PETALING JAYA: Astro Malaysia Holdings Bhd’s net profit for its second quarter ended July 31 fell 34.81% to RM 87.13 million from RM 133.65 million in the same quarter of the previous year, mainly due to lower earnings before interest, taxes, depreciation and amortization. (ebitda) and higher net financing costs, offset by lower depreciation of property, plant and equipment and tax charges
Its revenue fell 2.81% to RM 1.06 billion from RM 1.09 billion previously, mainly due to lower subscription revenues and merchandise sales, offset by higher sales. advertising revenue and sales of programming rights. Revenue continues to be impacted by the Covid-19 pandemic.
It declared a second interim dividend at a level of 1.5 sen per ordinary share for the fiscal year ending January 31, 2022, amounting to RM 78.21 million payable on October 20. The dividend payment entitlement date is October 6. .
For the six months ended July 31, Astro net profit increased 10.06% to RM 228.37 million from RM 207.49 in the corresponding quarter of the previous fiscal year, mainly due to the decrease in depreciation of property, plant and equipment and lower net financing costs, offset by lower EBITDA.
Revenue for the period down 1.03% to RM 2.12 billion from RM 2.14 billion previously, mainly due to lower subscription revenues and merchandise sales, offset by increased advertising revenues and sales of programming rights. Sales for the period continued to be impacted by the Covid-19 pandemic.
Astro chairman Tun Zaki Azmi said Astro H1’22 results remained strong despite an extended lockdown.
“Astro has continued to be cash-generating, cost-disciplined and proactive in managing its capital,” Zaki said in a filing with the exchange.
Astro Group CEO Henry Tan said that while Astro saw 10% growth in profit after tax and minority interest (patami) in the first half of 2020, the continued foreclosure and high cost of content resulting from the Olympics Tokyo 2020 and UEFA Euro 2020 had an impact on its T2’22. patami.
“We are pursuing our transformation plan and our ambition to be the number 1 aggregator of the best streaming services. Today we have one million connected boxes, of which over 400,000 are on Ultra and Ulti boxes, including the recently launched self-installing Ultra Plug & Play box that works only on broadband.
“In the first half of 22, our broadband base grew 89% year-over-year as more customers integrated broadband into their content plans for added convenience and value. Soon we will be offering more options to further strengthen our broadband and digital offerings, ”said Tan.
He said important short-term challenges remain as the Covid-19 pandemic continues. The protracted pandemic will impact the Malaysian economy, business enterprises and the consumer wallet with consequent effects on Astro’s revenue, particularly in the areas of advertising revenue, business and residential subscriptions.
“However, the roll-out of the nationwide vaccination program and subsequent easing of restrictions paves the way for economic recovery. Given these uncertainties, the group will continue to monitor and assess business conditions, while prudently managing costs to ensure sustainable operations and business performance, ”he said.