AirAsia active, falls 5.16% after 20% drop in 4Q earnings

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KUALA LUMPUR (Feb 28): AirAsia Bhd shares fell 5.16% in active trade this morning after the carrier posted a 19.9% decline in net profit to RM372.65 million in 4QFY17, from RM465.32 million a year ago, dragged by income tax expense and deferred taxation.

At 9.05am, AirAsia fell 23 sen to RM4.23 with 1.43 million shares traded.

Quarterly revenue, however, was up 37.2% to RM2.66 billion in 4QFY17 from RM1.94 billion a year ago, due to consolidation of PT Indonesia AirAsia and Philippines AirAsia Inc’s accounts and a 17% year-on-year (y-o-y) increase in the total passengers carried during the current quarter under review.