Axiata posts slightly lower net profit of RM349.56 mln in Q3

KUALA LUMPUR: Axiata Group Bhd's net profit dipped to RM349.56 million in the third quarter ended Sept 30, 2021 (Q3 FY2021) from RM352.99 million in the same period a year ago.

Its revenue, however, widened 7.1 per cent to RM6.54 billion from RM6.11 billion, while earnings before interest, taxes, depreciation, and amortisation (EBITDA) climbed 0.7 per cent to RM2.86 billion, it said in a filing with Bursa Malaysia.

Axiata said its Malaysian operation revenue grew by 1.2 per cent to RM1.6 billion, mainly driven by growth in the mobile business, while for Indonesia, revenue increased by 6.3 per cent to RM2 billion due to growth in the mobile and broadband businesses.

The telco’s Bangladesh operation saw revenue expanding 7.0 per cent to RM1 billion following growth in the prepaid business while its Sri Lanka revenue went up 11.8 per cent to RM772.1 million amid growth across core revenue segments.

Revenue for its Nepal operation added 2.6 per cent to RM356.2 million, mainly driven by higher data revenue, while Cambodia's revenue was 11.4 per cent higher at RM372.0 million, attributed to growth in the prepaid business.

The company said infrastructure revenue advanced 5.3 per cent to RM493.8 million.

Based on performance to date, the group said it is confident of exceeding its headline key performance indicators (KPIs) to mid single digit growth in revenue and EBITDA for the financial year ending Dec 31, 2021.

In a statement, chairman Tan Sri Ghazzali Sheikh Abdul Khalid said the steady performance demonstrated by Axiata in Q3 has placed the group on a strong trajectory for growth.

“As demand for data and digital solutions proliferate, the board continues to challenge the business to respond to commercial and community needs with resilience, agility and empathy across all our markets,” he added. “Equipped with a solid operating model to tackle business opportunities and challenges, we are also deeply committed to supporting recovery and growth across our markets as societies emerge from the devastation of the pandemic to find their footing in the new digital normal.”

Thus, he said Axiata has pledged RM115 million for the next 10 years to Axiata Foundation to further expand its “education pillar,” which is anchored by the Axiata Young Talent Programme in order to advance the skills and knowledge required to thrive in the digital economy.

- Bernama