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Axiata Group Q1 Profit Falls 13.3%

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Malaysia’s Axiata Group has reported a 13.3% drop in profit for the first quarter due to profit pressures faced by subsidiaries Celcom and XL.

Revenue grew 5% year-on-year to 4.8 billion ringgit ($1.33 billion), but net profit for the period fell to 585 million ringgit.

Malaysian mobile unit Celcom faced challenges due to its IT transformation project, with profit falling 12% despite a slight 1% increase in revenue.

Celcom’s data revenue swelled 36% year-on-year to account for 26% of revenue, compared to 19% in the previous year.

Indonesian subsidiary XL Axiata reported a flat 5.5 trillion rupiah ($418.7 million) in revenue, partly as a result of reduced tower rental revenue. Date revenue improved 29% year-on-ear to account for 32% of total service revenue. Original post at Telecom Asia

Wahengbam Rorrkychand

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