Friday, November 26, 2010

Telekom Malaysia 3Q net profit up 140% to RM446m

KUALA LUMPUR: TELEKOM MALAYSIA BHD [] reported a 140% surge in its third quarter earnings to RM446.6 million from RM185.7 million due to higher operating revenue, disposal of investments and higher unrealised exchange gain.

It said on Friday, Nov 26 revenue rose 4.4% to RM2.19 billion from RM2.10 billion. Earnings per share were 12.3 sen compared with 5.1 sen.

Group profit after tax and minority interests increased by 144.8% to RM438.5 million as compared to RM179.1 million in the corresponding quarter in 2009.

'This was mainly attributed to higher operating revenue, gain on disposal of investments and higher unrealised exchange gain on translation of foreign currency borrowings,' it said.

TM said operating profit before finance cost of RM396.5 million increased by 86.8% compared to RM212.3 million recorded in the same quarter last year primarily due to higher operating revenue and higher gain on disposal of investments in Measat.

The higher group revenue at RM2.19 billion was mainly due to higher revenue from data and other telecommunications related services, which mitigated the impact of lower revenue from voice and non-telecommunications services.

Data revenue increased by 24.6% in third quarter to RM440.9 million compared to RM353.9 million in the same quarter 2009 arising from demand for higher bandwidth services.

Other telecommunications related services revenue increased by 34.2% in third quarter to RM320.7 million compared to RM238.9 million in the third quarter last year mainly due to higher revenue from customers' projects such as MERS 999 and income from high speed broadband grant.

Internet and multimedia registered higher revenue by 1.4% to RM411.1 million in the current quarter arising from increased in broadband customers to 1.60 million in the current quarter from 1.40 million a year ago.

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