TM posts improved earnings in Q3

KUALA LUMPUR: Telekom Malaysia Bhd reported a quarter-on-quarter (q-o-q) improvement in group revenue and earnings due to improved contribution across its product lines and the success of its cost optimisation initiatives.

In a statement, the telco said group revenue was up 3.8% q-o-q to RM2.69bil from RM2.59bil in the second quarter of the year on the back of higher contribution from voice, Internet and data services.

Group reported earnings before interest and tax was 7% higher q-o-q to RM456.2mil versus RM42.6.3mil previously on the back of lower operating cost due to the group's cost optimisation initiatives.

This subsequently led to a 19.9% increase in group profit after tax and non-controlling interests (Patami) from RM274.7mil in the preceding quarter to RM329.5mil.

"“We are pleased to report another quarter of growth across all key financial metrics – revenue and profits – despite the challenging environment in Q3.

"Our efforts in cost optimisation continue to yield results with a healthy EBIT and a strong Patami.

"As we enter the ninth month of the Covid-19 pandemic, our priority continues to be the safety and health of our ‘Warga TM’ while continuously delivering connectivity and solutions excellence to our broad customer base," said Telekom group CEO Imri Mokhtar.

The group's Unifi service posted 6.2% growth to 1,65 million subsctibers, bringing its total broadband customer base to 2.26 million.

According to Imri, the group achieved a convergence penetration of three services or more of 58% in Telekom households, the highest since 2018 as more Malaysians turn to digital living-working in the new norm.

"At TM ONE, we further cemented our leadership position as the digital enabler for enterprise and public sector customers with enterprise-grade connectivity and end-to-end cloud offerings.

"We look forward to more collaborations with strategic partners and customers towards establishing a solid foundation for a more Digital Malaysia,” he added.

Meanwhile, Telekom continues to colalborate with industry players in Malaysia and globally on the wholesale front.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Telekom Malaysia , telco , unifi


Next In Business News

DNeX expects SilTerra, Ping Petroleum to drive FY22 earnings�
Hong Seng to dispose hire purchase unit for RM34.5mil
Bank Negara launches new alternative reference rate
RAM Ratings: Interest waiver to hit banks’ earnings recovery
FBM KLCI finishes 7.28 points lower
China shares end lower as materials weigh; property sector down
EPF to help members restore and rebuild their nest eggs
EPF 1H investment income up 25% to RM34.05b
Asian stock markets wobble as China Evergrande woes sap confidence
Bursa Securities queries SAM after share price spike

Stories You'll Enjoy