Axiata's 1Q Net Profit More Than Doubles To RM159.8 Mln
KUALA LUMPUR, May 28 (Bernama) -- Axiata Group Bhd’s net profit jumped to RM159.8 million in the first quarter ended March 31, 2025 (1Q 2025) from RM60.03 million in the same period last year, driven by foreign exchange gains, lower depreciation and amortisation and higher contributions from CelcomDigi.
In a filing with Bursa Malaysia, Axiata reported that revenue for the quarter under review, however, fell to RM5.09 billion from RM5.74 billion due to lower contributions from overseas operating companies, primarily impacted by foreign exchange translation as the ringgit strengthened against operating currencies.
In a separate statement, it said that at the underlying profit after tax and minority interest (Patami), all telcos except XLSMART delivered growth, along with CelcomDigi.
Its group chief executive officer and managing director, Vivek Sood, said despite a challenging first quarter marked by market volatility and macroeconomic headwinds, the group took decisive steps to reposition Axiata toward its long and medium-term portfolio objectives.
“We are confident that our strategic framework, focused on strengthening connectivity and convergence businesses while streamlining our portfolio for value creation and monetisation, will enable us to capitalise on significant market opportunities,” he added.
-- BERNAMA