TM maintains cautious outlook on economic scenario

TM said its revenue was spurred by its Internet and other telecommunications-related services.

PETALING JAYA: Telekom Malaysia Bhd (TM) is maintaining a cautious outlook on the economic landscape and customers’ measured spending, but it remains steadfast in the final year of its 2021 to 2023 transformation programme.

In a filing with Bursa Malaysia, the company said it would continue to strengthen its core business to be commercially sustainable as a public-listed company while contributing to the nation’s growth.

For its first quarter ended March 31, 2023, TM’s net profit dipped to RM330mil from RM340mil in the previous corresponding period, while revenue in the first quarter improved to RM2.95bil from RM2.89bil.

Basic earnings per share stood at 8.64 sen, versus 9.01 sen a year earlier.

TM said its revenue was spurred by its Internet and other telecommunications-related services. TM One recorded a 6.7% slowdown in revenue from RM774mil to RM722mil in the current quarter, largely due to the impact of price reduction and lower revenue from one-off customer projects.

“TM Global reported continuous growth in the first quarter of 2023, with revenue increasing by 3.9% from RM625mil to RM649mil, contributed by higher data and data centre co-location services.” Additionally, Unifi continues to deliver leadership in convergence service and solutions for both home and micro, small and medium enterprises.