Axiata Q3 net profit up 20pc to RM709.9m
KUALA LUMPUR, Nov 29 — Mobile phone operator Axiata Group Bhd reported a 20.4 per cent increase in net profit for the third quarter ended September 30, according to a local stock exchange filing today.
The third quarter net profit rose to RM709.9 million from RM589.6 million a year ago due to robust data business in Malaysia and Indonesia, the company said.
Revenue climbed 8.4 per cent year-on-year to RM4.5 billion on the back of steady performance in its key markets.
The company announced no dividend.
“Our momentum is strong going into the last quarter of the financial year. Despite foreign exchange fluctuations and slowing growth in traditional businesses, we are confident about our prospects for the rest of the year,” Axiata's president and group chief executive Datuk Seri Jamaludin Ibrahim in a statement.
Its shares rose 1.02 per cent to RM5.93 per share today, outperforming the Malaysian benchmark stock index's 0.29 per cent rise. — Reuters