TM posts Q3 net profit of RM261.3 mln

KUALA LUMPUR, Nov 26 -- Telekom Malaysia Bhd’s (TM) has posted a net profit of RM261.3 million for the third quarter ended Sept 30, 2019 from a net loss of RM175.59 million recorded in the same quarter last year.

Revenue eased to RM2.85 billion from RM2.94 billion previously, the group said in a filing to Bursa Malaysia today.

It said the lower revenue was due to decreased revenue from all lines of product except data and non-telecommunication related services.

TM said lower impairment losses on network assets compared to what was recognised in the corresponding period last year led to an increase in operating profit before finance cost by 867.7 per cent (RM1.065 billion) to RM1.18 billion as compared to RM122.8 million in 2018.

“The group’s ability to sustain a continuous reduction in operating costs further contributes to the better performance,” it said.

Consequently, group profit after tax and non-controlling interests (PATAMI) increased by 718.9 per cent (RM600.3 million) to RM683.8 million from RM83.5 million in corresponding period last year.

On prospects, it said the group’s improvement initiatives and efficient cost management continue to improve its profitability.

“Our focus remains toward our customers, and to strengthen the group’s performance by investing to improve customer experience across segments to grow our revenue,” it said.

-- BERNAMA