RM645.8m Q2 net for Axiata

Dear LOYAL READERS,
FREE EBOOK FOR YOU

Title : 10 Golden Rules Of Investing In Stock Market

Please signup with your email, below.

We respect your email privacy

Subscriber Counter

KUALA LUMPUR: Axiata Group Bhd posted a lower net profit of RM645.77 million for the second quarter ended June 30, from RM666.63 million recorded in the same period last year.

The 3.28 per cent drop was mainly due to weaker contributions from its Indonesia-based PT XL Axiata Tbk as well as higher foreign exchange losses in the quarter.

Revenue, however, increased to RM4.63 billion, up 4.8 per cent from RM4.41 billion, respectively.

The group declared an interim dividend of 8.0 sen a share on the back of 7.6 sen earnings per share compared with 7.8 sen respectively.

Group chief executive officer Datuk Seri Jamaludin Ibrahim attributed the revenue growth to higher contributions from all key operating companies, except Indonesian operations, which are affected by translation due to the strengthening of the ringgit against the rupiah.

Indonesia accounts for about 40 per cent of Axiata’s revenue.

“At constant currency, the group revenue would have registered stronger growth of 7.1 per cent,” Jamaluddin told a media briefing, here, yesterday.

He added the group’s operating costs increased by 11.7 per cent to RM2.76 billion in the same quarter this year from RM2.47 billion a year ago, mainly driven by Malaysia, Indonesia and Bangladesh.

Overall, the company saw its net profit surge 2.4 per cent, recording RM1.26 billion in the first half of this year compared with RM1.23 billion a year ago.

Revenue rose at a stronger pace of 5.2 per cent to RM9.11 billion from RM8.66 billion in the same period respectively.

“The group’s focus on operations and cost has achieved positive results, a confirmation that we can continue with this momentum into the second half of the year,” Jamaludin said.

Business Times : nation

Comments are closed.