DiGi Posts High Rise Profit in the 3rd Quarter

Malaysian mobile phone operator DiGi.Com Bhd. said on 19 October its net profit jumped 51 percent from a year ago in the quarter through September, thanks to a rise in its customer base and revenue.
    Net profit surged to 273 million Malaysian ringgit ($78 million) for the quarter ended 30 September, while revenue rose 21 percent to 1.11 billion ringgit ($317 million), it said in a statement.
    DiGi, which is 61 percent owned by Norway’s Telenor ASA, is the smallest by revenue among Malaysia’s three mobile phone operators. However at the end of 2007 Telenor has to cut its stake below 50% which is part of an agreement with Malaysia’s government.
    It attributed its strong performance to a 9 percent growth in subscriber base from a year earlier to 6.1 million customers. It said average usage per subscriber had increased and non-voice revenue, such as for text messaging services, continued to expand.
    “We made significant gains from target market offerings, good network quality and stronger brand equity,” said DiGi Chief Executive Morten Lundal.
    “The Malaysian market is very competitive, but DiGi benefits from standing out as a unique combination of innovation, simplicity and best value,” he said.
    In the first nine months of the year, DiGi’s net profit soared 36 percent to 770 million ringgit ($220 million) while revenue jumped 19 percent to nearly 3.2 billion ringgit ($914 million).
    DiGi aims to continue to drive growth in the increasingly competitive market by leveraging on its strong innovative stance and ability to respond swiftly to changing customer needs.

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