Astro falls almost 7% on 2Q earnings miss

fell in early trade after reporting a 76% lower net profit in the second quarter ended July 31 .

“Dividends will be paid depending on overall business and earnings performance, capital commitments, financial conditions, distributable reserves and other relevant factors. We will continue to review the dividend policy,” Astro said.Astro’s second quarter net profit ended July 31 fell by 76% year-on-year to RM23.65mil on the back of its revenue falling by 5.6% y-o-y to RM869.82mil. Basic earnings per share stood at 0.45 sen, versus 1.89 sen previously.

“Also, following Astro’s revised dividend policy, we have imputed a conservative dividend payout ratio assumption for FY24F to FY26F at 45% . Correspondingly, our revised DPS implies a dimmer forward yield of 3.5% to 4.1% ,” it said.

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