KUALA LUMPUR (May 31): Time dotCom Bhd's net profit for the first quarter ended March 31, 2018 (1QFY18) rose 19% to RM62.94 million compared to RM53.05 million in the previous year, on higher revenue from its data and data centre segments.

Earnings per share rose to 10.82 sen from 9.17 sen last year, while revenue rose 6% to RM230.73 million compared to RM218.42 million a year ago.

In a statement today, the group said excluding the impact of MFRS 15 for better comparability purposes, the group would have seen a pre-tax profit increase of 6.4% year-on-year (y-o-y), on the back of improved cost efficiencies and higher share of profit from investment in associates.

It said one-off revenues from Indefeasible Rights of Use (IRU) sales and non-recurring contracts accounted for RM4.4 million of total revenue recognised in 1QFY18.

Excluding the one-off revenues from IRU sales and non-recurring contracts, overall consolidated revenues in the current period would have shown an increase of RM31.6 million or 16.3% when compared to the similarly adjusted revenues in the preceding year's corresponding period.

Aside from this, the group saw revenue growth from all its core customer groups, particularly its retail customers. In particular, higher sales were recorded from data and data centres businesses, which grew RM33.5 million or 23.2% y-o-y and RM2.7 million or 10.2% y-o-y respectively.

Moving forward, the group said it expects the telecommunications industry to remain competitive and challenging throughout 2018.

"The group will continue to strengthen its domestic fibre network while it intensifies efforts to extend its coverage footprint domestically. The focus will remain on the consumer market with the encouraging demand that the group is seeing for its TIME Fibre Home Broadband offerings," it said.

Time dotCom shares closed up 47 sen or 5.9% to RM7.50, for a market capitalisation of RM4.36 billion.