Axiata boosts net 44% on strong Celcom, XL gains

Dylan Bushell-Embling
28 Aug 2009


Malaysia's Axiata showed signs of recovery in Q2, with its profit increasing sevenfold quarter-on-quarter thanks to forex gains and strong growth across its regional businesses.


The company, formerly known as TM International, posted net earnings of 526.8 million ringgit ($149.1 million), a year-on-year improvement of 44%.




Malaysian mobile unit Celcom had one of its best ever quarters. Revenue grew 5% QoQ to 1.5 billion ringgit, and the company added 114,000 new subscribers - a 37% increase from the previous quarter.


Indonesian cellco XL more than doubled profit to 1.012 trillion rupiah ($100.2 million). Revenue increased 14% over the same period despite a 1% fall in subscriber numbers to 24.7 million.


Sri Lanka's Dialog posted a loss of SLR9.53 billion ($83 million) from a one-time charge, but revenue grew 4% QoQ to SLR8.73 billion. In India, Idea increased its profit 11% and its revenue 6%.


The company delivered a strong full-year outlook. “Based on the performance so far we expect the group’s full-year revenue and ebitda growth to be towards the higher end of our KPIs,” chairman Tan Sri Azman Mokhtar said.


Dylan Bushell-Embling

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