Astro Malaysia Holdings Bhd's performance continued to slump in the second quarter of the 2024 financial year, pushing its shares to an all-time low.
In the second quarter ending 31 July 2023, Astro's net profit declined 75.98% to RM23.65 million from RM98.47 million a year earlier following higher operating costs and foreign exchange (forex) losses.
Meanwhile, revenue for the quarter decreased by 5.56% to RM869.82 million from RM981.12 million a year ago following a decline in revenue from subscriptions, advertising and merchandise sales.
Overall, in the first half of 2024, Astro's net profit fell 80.08% to RM39.55 million compared to RM198.48 million in the same period last year.
In addition, revenue fell 6.49% to RM1.76 billion, from RM1.88 billion a year ago.
As a result of the dismal performance, Astro's shares fell to an all-time low at the beginning of today's trading.
The counter opened two sen lower at 49 sen and hit a low of 46.5 sen, before paring losses to trade around 47.5 sen with a market value of RM2.46 billion.
