Axiata posts lower profit on forex loss


PETALING JAYA: Axiata Group Bhd has posted an unaudited net profit of RM63.9mil for the first quarter ended March 31, down 84.1% as compared with RM402.7mil it posted in the previous corresponding period.

In a statement to Bursa Malaysia yesterday, the group said the decline was mainly due to the foreign exchange loss of RM216.2mil for this quarter, as opposed to RM42.4mil foreign exchange gains reported previously.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Trading ideas: MyEG, Axis REIT, Mah Sing, Capital A, Hibiscus, Chin Hin, Carlsberg, I-Bhd
Businesses concerned about rising forex woes
Booming eCommerce bolsters consumption
Sasbadi reports record high quarterly revenue on robust sales
LME takes aim at traders’ Russian metal games with new rules
Helping more city-state F&B businesses to expand overseas
Funds raised by Singapore’s tech startups up 59% in 2023
Fernandes on board Capital A for five more years
China’s prices are too low for buyers to sweat about tariffs
UK firms told to ‘urgently review’ green claims

Others Also Read