Telekom 3Q net profit up 32.5% to RM211.82m on forex gains

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KUALA LUMPUR (Nov 22): Telekom Malaysia Bhd (TM) saw its net profit for its third quarter ended Sept 30, 2017 (3QFY17) increase 32.5% to RM211.82 million, from RM159.84 million, boosted by foreign exchange gain.

Quarterly revenue increased by 0.6% to RM2.94 billion in 3QFY17, from RM2.92 billion in the same quarter last year, owing to higher income from internet and multimedia services. 

“I’m particularly happy to report that as at end-September, we saw stronger growth in Unifi, as net addition doubled quarter-on-quarter by 55,000, totalling 1.06 million customers. This is the highest quarterly Unifi net add we have achieved since 3QFY12,” TM group chief executive officer Datuk Seri Mohammed Shazalli Ramly said in a statement accompanying its results, filed separately with Bursa Malaysia today.

“To date, more than 94% of our Unifi customers are on 10Mbps and above packages, compared with only 75% last year. Our mobility service, Unifi mobile (previously known as webe), showed very encouraging performance and I’m pleased to report that to date, we have achieved 8% of TM’s household penetration [for our] FY2017 target, ahead of expectations. This means we have achieved our target for the year earlier than expected,” he added.

For the cumulative nine months ended Sept 30, 2017 (9MFY17), TM's net profit increased 4.99% to RM652.74 million, from RM621.73 million in the same period last year, while revenue remained flat at RM8.89 billion, compared with RM8.82 billion a year ago.

On prospects, TM said it “foresees sustainable performance in the remaining quarter of the financial year, despite competition and challenges in the telecommunication industry.”

“In the following months, the group will remain focused on accelerating its Convergence action plans and pushing forward with its Go Digital agenda, towards delivering relevant convergence lifestyle communication services and end-to-end business solutions to all its customers,” TM added.

At noon-break, TM shares paused at RM6.07, giving it a market capitalisation of RM22.81 billion.