Telekom M’sia Q4 revenue up, but earnings down 5.2% to RM344.2mil

KUALA LUMPUR: Telekom Malaysia Bhd’s earnings in the fourth quarter ended Dec 31, 2013,
were down 5.2% year-on-year to RM344.2mil from RM363.2mil, even though revenue climbed 6% to RM2.979bil from RM2.809bil.

According to Telekom Malaysia, this decrease in profitability despite improved revenue was mainly due to foreign exchange losses on translation of foreign currency borrowings of RM8.7mil in the current quarter as compared to a gain of RM5.4 million in last year quarter, as well as the absence of deferred tax income on unutilised tax incentives.