Business

Axiata returns to the black with RM204.1 mln net profit

Syndicated News
Written by Syndicated News

KUALA LUMPUR, Aug 29 2019 : Axiata Group Bhd returned to the black with a net profit of RM204.10 million in the second quarter (Q2) ended June 30, 2019 after having chalked up a net loss of RM3.36 billion in the same period last year.

Revenue jumped 4.9 per cent to RM6.15 billion from RM5.87 billion previously, it said in a filing with Bursa Malaysia.

The strong Q2 results were mainly contributed by the performance from all operating companies apart from its mobile operations in Malaysia and Nepal, as well as driven by better performance and the discontinuation of losses related to the group’s investment in India.

Group earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased 30.7 per cent to RM2.67 billion quarter-on-quarter.

Axiata’s board of directors have resolved a tax-exempt dividend under a single-tier system of 5 sen per ordinary share of the company for the financial year ending Dec 31, 2019 (June 30, 2018: 5 sen). – Bernama

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