TM Q3 NET PROFIT EASES TO RM265 MLN, BUT REVENUE HIGHEST IN 10 QUARTERS AT RM3.16 BLN

KUALA LUMPUR, Nov 22 (Bernama) -- Telekom Malaysia Bhd's (TM) net profit for the third quarter ended Sept 30, 2022 (Q3 2022) recorded a slight decline to RM265.19 million from RM271.21 million in the same quarter last year.

This was due to higher taxation payout and foreign exchange translation loss on borrowings, the company said in a filing with Bursa Malaysia today.

However, its revenue rose by 12.7 per cent to RM3.16 billion versus RM2.80 billion previously, the highest revenue recorded in the last 10 quarters.

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"Continuous investment for growth and improving the experience of customers has been a rallying point for TM.

"The group invested capital expenditure (capex) at 19.1 per cent of revenue this quarter, amounting to RM603.7 million to meet customers’ demands through fibre expansion, network modernisation and technology upgrades," said TM. 

On its outlook, TM group chief executive officer Imri Mokhtar said that the group's growth momentum is expected to continue for the rest of 2022 from its core business segments - Unifi, TM One, and TM Wholesale.

"We continue to invest in our technology capabilities, new growth areas of fixed-mobile convergence (FMC) and digital solutions.

“We are building capacity and digital talents within TM while staying focused on growing with our customers, as well as continuing our cost discipline," he added.

Imri said that 2022 is the year to build TM’s commercial resiliency to face the anticipated headwinds in 2023, namely the easing of economic growth, high supply chain cost and more measured customer spending.

“As we evolve from a converged telco into a human-centred technology company (techco), we continue to focus on executing our transformation programmes which have produced tangible results for our customers and stakeholders," he added.

-- BERNAMA