Ace market-listed telecommunications service provider Privasia Technology Bhd today announced that its revenue for the third quarter ended 30 September, 2024, decreased by 22.44% to over RM24.61 million year-on-year (YoY), from RM31.7 million2 in the previous year, through a Bursa filing dated Nov 26.

Net profit for the third quarter amounted to RM622,269, reflecting a contraction of 21.13% YoY from RM792,994 recorded in 2023.

The year-to-date (YTD, up to September) revenue totalled at nearly RM63.0 million3, narrowing by 20.67% YoY from nearly RM79.4 million4. Net profit for the nine-month period, meanwhile, declined by 11.21% YoY to more than RM1.9 million5, from over RM2.1 million6 recorded last year.

Total assets held as at 30 September, 2024, amounted to nearly RM174.1 million7, which marked an increase of 48.92% from the total asset position of RM116.9 million8 as at 31 December, 2023. Cash and cash equivalents held by Privasia amounted to nearly RM9.2 million9 as at 30 September, 2024.

Privasia manages its operations through two wholly owned subsidiaries namely Privasia Sdn Bhd and Privasat Sdn Bhd.

Privasia Sdn Bhd develops digital solutions in automation for business organisations including government-linked companies (GLC). Privasat Sdn Bhd, meanwhile, offers a broad spectrum of broadband services of VSAT or satellite-based network solutions, providing seamless communication that are independent of geographical barriers or terrestrial infrastructure ideal for Plantations and Oil Mills (offshore and onshore).

1. RM24,621,716 ︎
2. RM31,711,984 ︎
3. RM62,965,371 ︎
4. RM79,373,592 ︎
5. RM1,903,877 ︎
6. RM2,144,314 ︎
7. RM174,077,097 ︎
8. RM116,896,243 ︎
9. RM9,152,609 ︎