Malaysian media and entertainment company Media Prima Bhd posted a net profit of RM12.43 million in the third quarter ended September 30, 2020 (Q3 2020), reversing a net loss of RM24.16 million in Q3 2019.

The group’s revenue recorded a marginal growth to RM268.76 million from RM265.54 million recorded in Q3 2019, following the gradual resumption of economic activities in Malaysia after the relaxation of the movement control order.

It posted a profit after tax of RM11.78 million in Q3 2020 against a loss after tax of RM25.56 million in Q3 2019 on improved revenue and lower operating expenses. Profit after tax also included waivers on lease payments and rebates on licence fee amounting to RM9.7 million.

According to the company, digital media segment and home shopping with higher viewership contributed to the higher revenue.

Group chairman Datuk Syed Hussian Aljunid said it had made strategic decisions to drive the next phase of business transformation in the last few months.

As the group’s transformation exercise has proven to bear fruit, analysts are hopeful the improvement will persist, while subsequently defending the group’s bottom line.