TM 1Q net profit rises 4.4% to RM339.8mil

Telekom Malaysia group chief executive officer Imri Mokhtar

KUALA LUMPUR: Telekom Malaysia Bhd (TM) posted a 4.4% improvement in net profit to RM339.84mil in the first quarter ended March 31, from RM325.45mil in the same period last year.

The telco said the improved earnings was driven by lower finance cost subsequent to the group’s early redemption of its RM2bil sukuk in March 2021 as well as lower foreign exchange translation losses on borrowings.