KUALA LUMPUR: Axiata Group Bhd, Malaysia's largest mobile phone operator by market value, said on Monday third-quarter net profit fell 11.7 percent from a year earlier, dragged down by lower profit margin and forex losses at its Indonesian unit.
Net profit dropped to 631 million ringgit ($188.7 million), in the July-September period, from 715 million ringgit a year earlier, the company said in a statement to the stock exchange.
Revenue was marginally flat at 4.65 billion ringgit, it said.
"The group is well positioned to finish the year on a stronger note as we regain momentum at Celcom and XL now well placed after completion of Axis integration," Axiata Chief Executive Officer Jamaludin Ibrahim said in the statement on Monday.
Axiata, which counts state investor Khazanah Nasional Bhd as a major shareholder, has over 200 million subscribers in countries including Indonesia and Bangladesh, helping it counter slowing growth in Malaysia, where the number of subscriptions exceed the country's population.
Axiata released earnings at the midday trading break. Its shares gained 1.27 percent to 7.19 ringgit per share prior to the earnings release.
The counter has advanced 2.9 percent year to date, compared with a 3.1 percent drop for the benchmark stock index.
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