Thursday 28 Mar 2024
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KUALA LUMPUR (May 23): Telekom Malaysia Bhd reported a 29% drop in first quarter net profit at RM230.43 million from a year earlier on higher operating cost and lower foreign-exchange gain.

Telekom Malaysia told Bursa Malaysia today that net profit fell to RM230.43 million in the first quarter ended March 31, 2017 from RM322.44 million. Revenue was higher at RM2.96 billion versus RM2.86 billion.

"For the current quarter under review, group revenue increased by RM109.2 million (3.8%) to RM2,964.6 million as compared to RM2,855.4 million in the same quarter last year, mainly due to higher revenue from Internet and multimedia, data, other telecommunication and non-telecommunication related services.

"Impact of lower foreign exchange gain on the group’s borrowings in the current quarter compared to corresponding quarter last year further caused group profit after tax and non-controlling interests to decrease RM92.0 million (28.5%) to RM230.4 million from RM322.4 million," Telekom Malaysia said.

Looking ahead, the company said it would implement its growth plans based on its strategic investments. "We foresee the outlook for the months ahead to remain positive," Telekom Malaysia said.

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