TM revenue up on record subscriber growth

Revenue in the three-month period ended Sept 30 rose 4% to RM2.8bil from RM2.69bil a year ago.

PETALING JAYA: Telekom Malaysia Bhd posted a higher revenue in the third quarter ended Sept 30, 2021, driven by higher new subscriber growth for its unifi services, but increased operating costs dented its earnings.

The group’s fixed broadband subscriber base saw three consecutive quarters of record-breaking increase at 18.8% to 2.6 million at the end of September.

Revenue in the three-month period ended Sept 30 rose 4% to RM2.8bil from RM2.69bil a year ago.

Net profit, however, declined 17.6% to RM271.2mil.

Operating profit before finance cost was RM434.3mil for the quarter, down 5.5% from the RM459.8mil reported in the same quarter last year.

This was mainly due to the increase in operating costs.

This included provisions recognised in relation to the group’s manpower optimisation initiatives.

The current quarter also saw foreign exchange translation losses of RM12.5mil.