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Axiata group sees profit grow 5%
2013-05-23 02:32:00| Telecompaper Headlines
(Telecompaper) Mobile operator group Axiata posted a first quarter net profit of MYR 675.2 million, up 4.7 percent from MYR 644.9 million in the year-ago period, mainly due to foreign exchange gains. Higher profit contribution in Sri Lanka and Bangladesh operations also brought back positive growth to the group. Revenues were up 5.5 percent to MYR 4.5 billion from MYR 4.2 billion in Q1 2012 as slower momentum in traditional revenues was cushioned by strong growth in data at Celcom and XL. EBITDA, however, dipped 2.4 percent to MYR 1.8 billion, due to higher costs associated with the push for data coverage expansion, especially at XL. EBITDA was also impacted following the introduction of SMS interconnection and price competition at XL which started in the second quarter 2012. The company's total mobile subscriber base grew 9.4 percent across the group to 219 million. For FY 2013, Axiata expects revenue growth of 7.6 percent and EBITDA growth of 0.2 percent.
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Category:Telecommunications