Telekom Q1 profit jumps to RM308mil

Telekom's acting group CEO and chief operating office Imri Mokhtar said revenue challenges continued to persist into the first quarter of the year, with intensifying competition and price erosion.

KUALA LUMPUR: Telekom Malaysia Bhd’s net profit almost doubled in the first quarter ended March 31 to RM308.28mil from RM157.15mil a year ago, mainly due to a reduction in operating costs.

The telecommunication company told Bursa Malaysia that its revenue dipped by 2.4% to RM2.78bil from RM2.85bil a year ago. Its earnings per share were 8.2 sen compared with 4.18 sen.