Astro Q3 net profit at RM171mil

KUALA LUMPUR: Astro Malaysia Holdings Bhd’s (Astro) net profit rose 11.5% to RM170.84mil in the third quarter ended Oct 31 (3Q20) from RM153.21mil a year ago due to reduced content costs and lower impairment of receivables.

In a filing with Bursa Malaysia, the pay-TV operator said lower tax expenses also played a key factor in the rise in net profits for the quarter, which was offset by higher finance costs.

Chief executive officer Henry Tan said the group continued to post solid earnings growth following its improvement in customer services, refreshing content as well as enhancing home entertainment and personalisation on Astro Go.

Astro Go’s registered users rose by 14% to 2.4 million with weekly viewing time jumping by 66% to 264 minutes.

Moreover, on demand video downloads was up by 34% to 51 million with weekly time spent rising by 10% to 503 minutes.

The group’s revenue dipped 12.1% to RM1.21bil in the quarter compared with RM1.38bil a year ago dragged by a drop in subscription revenue, offset by an increase in advertising revenue and merchandise sales.

Source: TheStar