Astro said the increase resulted from lower net financing costs, driven by favourable unrealised foreign exchange arising from unhedged lease liabilities and lower amortisation of intangible assets.

However, revenue declined by 6% to RM787.3 million compared to the corresponding quarter of RM837.37 million, primarily driven by a reduction in subscription and advertising revenue.

“Revenue for the television segment in the current quarter stood at RM752.7 million, down 5.2% against the corresponding quarter, mainly arising from the decrease in subscription revenue and advertising revenue,” it said in a stock exchange filing.

For the six-month period ended July 31, 2024, Astro posted a net profit of RM71.72 million, while revenue dropped 7.9% to RM1.56 billion.

Moving forward, Astro remained vigilant in monitoring local economic conditions, as softening customer sentiments and geopolitical factors continue to affect the industry.

“A sustained strengthening of the ringgit would help mitigate some of the US dollar-based cost pressures over the medium-term,” it said.

At the close of trading, Astro’s share price was down by 0.5 sen or 1.85% at 26.5 sen, giving the group a market capitalisation of RM1.15 billion.