PETALING JAYA: Telekom Malaysia Bhd’s (TM) share price fell 2.32% or 7 sen this morning, following a 75% decline in its fourth quarter (Q4 FY18) net profit.
At 11.17am, the stock stood at RM2.95 with 1.75 million shares changing hands, giving it a market capitalisation of RM11.09 billion.
TM’s net profit for the fourth quarter ended Dec 31, 2018 plunged 74.9% to RM69.66 million from RM277.01 million a year ago, dragged by higher finance cost and lower foreign exchange gain on the group’s borrowings, and tax charges.
Revenue for the quarter fell 3.5% to RM3.09 billion from RM3.2 billion a year ago due to decrease in data, Internet and multimedia as well as non-telecommunication related services.
The group declared an interim dividend of 2 sen per share for FY18, to be paid on April 12.
