Digi.Com Berhad (Digi), a Malaysian unit of Norwegian telecommunications company Telenor, saw its net profit fall 14.67 percent year on year to 358.9 million ringgit (83.55 million U.S. dollars) in the second quarter ending Jun 30, 2017 amid continued competition in the sector.
The third largest mobile operator in Malaysia told Malaysian stock exchange on Wednesday that its revenue for the second quarter also dropped marginally to 1.55 billion ringgit, from 1.65 billion ringgit in the previous year.
For the first half ending Jun 30, 2017, Digi's net profit decreased by 10.69 percent year-on-year to 732 million ringgit. This was in line with its revenue that had fallen 5.49 percent to 3.13 billion ringgit.
"The operational excellence remained a core priority for the quarter to ensure long-term sustainable growth, to drive market resilience while delivering relevant affordable services to customers," Digi's chief executive officer Albern Murty commented on the challenging quarter for the industry.
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