KUALA LUMPUR: Telekom Malaysia Bhd’s (TM) net profit surged to RM242.9mil for the first quarter ended March 31, compared with RM27.7mil a year ago, due to unrealised gain on foreign exchange.
“This was mainly attributed to unrealised exchange gain on translation of foreign currency borrowings of RM166.6mil compared with a loss of RM175.5mil in the same quarter last year and partly offset by lower interest income by RM56.5mil and higher tax expense by RM47.5mil,” TM said in the notes accompanying its results announcement.