KUALA LUMPUR: Pertama Digital Bhd slipped into the red, with a net loss of RM1.77 million for the first quarter (Q1) ended March 31, 2023 (FY23) against a net profit of RM5.08 million a year ago, dragged by higher operating expenses.
Quarterly revenue plunged 73.6 per cent to RM1.35 million from RM5.11 million previously.
As a result, the company registered a loss per share of 0.41 sen against earnings per share of 1.17 sen a year earlier, according to its filing with Bursa Malaysia today.
Pertama Digital did not recommend the payment of any dividend for the quarter ended March 31, 2023.
On prospects, the company is committed to remaining relevant to national goals by proposing innovative, risk-managed solutions backed by robust executive capabilities.
Recognising the challenges those with limited digital skills face in adapting to the new digital economy, the company said its key goal is to identify and assist this demographic.
Additionally, Pertama Digital noted that the company is implementing the coin conversion project through its subsidiary Dapat Vista Sdn Bhd (DVSB).
"This initiative involves placing kiosks at selected commercial areas where the general public, including retailers and consumers, can sell their Malaysian syillings (coins) in exchange for money.
According to Pertama Digital, the coin conversion project aims to provide a convenient solution for individuals to manage their excess or unused coins by selling them to the company's kiosks.
It also offers easy access to coins for those who need them.
The project aims to establish a sustainable ecosystem for the recirculation of used coins, as they hold monetary value and are commonly used in daily cash transactions.
As a result, there is expected to be a positive demand for these coin conversion services.
Meanwhile, Pertama Digital currently operates several other services, and these include the Malaysian government SMS gateway known as mySMS 15888, MyPay (a mobile application facilitating secure and efficient check-and-pay transactions with government agencies), and eJamin (a digital bail payment solution used in Malaysian criminal courts).
The company added that its mobile and digital solutions businesses have a promising outlook, with further plans in development, which will be announced at the appropriate time.
"DVSB's potential, along with the company's new business operations in the mobile and digital solutions sector, is expected to contribute positively to earnings," it said.
Previously, Pertama Digital discontinued its operations in the fabric production and sale segment on August 10 last year, which were conducted through Be Top.