KUALA LUMPUR: Astro Malaysia Holdings Bhd posted a net profit of RM54.70 million for the second quarter (Q2) ended January 31, 2025 (FY25), marking a positive growth of 131.32% compared to RM23.65 million posted in the same quarter last year.
According to a Bursa Malaysia filing, Astro said the increase was due to lower net financing costs, driven by favourable unrealised forex gains from unhedged lease liabilities and reduced amortization of intangible assets.
However, lower EBITDA and higher tax expenses partially offset this.
Revenue for Q2 FY25 declined 5.98% to RM787.30 million in Q2 FY25 from RM837.37 million in Q2 FY24, primarily due to a reduction in subscription and advertising revenue.
Revenue for the television segment in the current quarter stood at RM752.7 million, up RM25.6 million or 3.5% from the RM727.1 million posted in Q2 FY24.
This was mainly due to the increase in subscription revenue and sales of programming rights, offset by
decrease in advertising revenue.
Revenue for the radio segment was lower by RM10.9 million, or 24.0%, compared to Q2 FY24. The higher revenue performance posted in Q2 FY24 was due to the Raya festival.
Group CEO Euan Smith said Astro remains vigilant about local economic conditions, softening consumer sentiment, and broader geopolitical factors impacting the industry.
However, a strengthening ringgit would help mitigate US dollar-based cost pressures in the medium term.
“Despite all the activity, the group maintains a cautious outlook, focusing on prudent cost management and carefully monitoring evolving business conditions.
“We are fully committed to our FY25 goals, which are to grow new customers by providing greater value, strengthen our adjacent business, which includes Astro Fibre, sooka, and addressable advertising, and reduce legacy cost base and entry price of our services to compete with global players,“ he said.
