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 Business

Digi to grow internet revenue, postpaid customers

15th May, 2018

KUALA LUMPUR: Digi.Com Bhd will focus on growing its Internet revenue and number of postpaid customers in the 2018 financial year, amidst a challenging operating environment.

Chief Financial Officer Nakul Sehgal said this strategy had started to bear fruit with its Internet revenue surging 22.5 per cent, year-on-year, to RM761 million in the first quarter and postpaid revenue improving 13.7 per cent to RM591 million.

“We believe these two segments give more sustainable business for us,” he told a press conference after the company’s annual general meeting here Monday.

Nakul said Digi would intensify efforts in driving monetisation from its customers by making sure customers get enough avenues to use more data.

In the first quarter, data consumption stood at 7.2GB per customer.

Nakul said the competitive environment continued to present challenges for the company and it would likely see a flattish growth or single-digit revenue decline this year.

Meanwhile, he said Digi would continue to develop the ecosystem for its fintech service ‘vcash’, which was still in its infancy and yet to be profitable.

Digi’s focus now would be to grow its merchant list for the service as this would allow maximum usage of the system, he added.

On the Malaysian Communications and Multimedia Commission’s opening of the 700 megahertz (MHz) spectrum tender, Nakul said Digi has applied (for it) given that this low band spectrum is quite important for more data centric growth in the future.

“That is probably something that is on the horizon in the next few quarters,” he added. –Bernama

   
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