Astro posted a 21% jump in its Profits After Tax to RM106 million from RM1.02 billion revenue for quarter three of the 2022 financial year, however, on a quarter-on-quarter basis, the group revenue was down 8% and profits down 37% from RM166 million it achieved in the previous year.
The operator of the satellite entertainment network continued to be cash generative, cost disciplined, and proactive in its capital management. Henry Tan, Group Chief Executive Officer of Astro said: “Our aggregation strategy execution is well on track. We recently launched the all-new Astro experience, with Netflix being the first of many apps to be integrated directly onto Ultra Box, allowing our customers to stream content from these apps seamlessly. They can now enjoy the best of global streaming services with our flagship shows and live sports all in one place on Astro.”
According to Astro, over 500k homes are now on Ultra and Ulti Boxes, including the self-installed Plug & Play version that runs solely on broadband. Meanwhile, its Astro GO has 1.0mn monthly active users with an average weekly viewing time of 4.2 hours, while the On Demand videos streamed grew 189% to 387mn. In 9MFY22, our broadband base increased by 83% y-o-y as more customers bundled broadband with content for convenience and value.” added Henry.
Its advertising revenue grew 2% y-o-y to RM303mn in 9MFY22, but Q3FY22 Adex declined by 5% q-o-q due to the lockdowns. However, with the reopening of the economy, Adex and Enterprise began to see recovery in October. Radex, TV Adex and Digital Adex share stood at 76%, 35% and 2% respectively.
Astro looking at a new revenue stream from its recent signing of access and wholesale agreements with Telekom Malaysia which will be enlisting the group as an internet service provider.
On the outlook, Henry Tan admits that the recent emergence of a new COVID-19 variant of concern may impede the overall rate of recovery. The Group remains cautiously optimistic and will continue to monitor business conditions, whilst prudently managing costs.
