Axiata incurs web reduction of RM52.40m in Q3 on currency trading losses

KUALA LUMPUR, Nov 25 — Axiata Team Bhd has posted a internet loss of RM52.40 million for the 3rd quarter finished Sept 30, 2022 (Q3 2022) in contrast with a net profit of RM349.56 million in the exact same time period last yr, primarily impacted by substantial international exchange (foreign exchange) losses of RM346.7 million.

In a filing with Bursa Malaysia, it mentioned the losses had been also thanks to bigger depreciation and amortisation, one-off additional service fees and penalties billed in the course of the present-day quarter for the use of microwave equipment in prior a long time totalling RM151.6 million recorded by cellular operations in Cambodia, higher finance charges and taxes, but partially cushioned by larger toplines.

Revenue in Q3 elevated 11 for each cent to RM7.26 billion from RM6.54 billion previously, while earnings prior to interest, taxes, depreciation, and amortisation (Ebitda) grew by 12 for every cent to RM3.20 billion.

Income for Malaysia amplified by 5.4 for every cent to RM1.68 billion, mostly driven by improved prepaid performance, higher sale of gadgets, and contribution from new subsidiaries, Infront Malaysia and Bridgenet Answers.

In the meantime, profits for Indonesia, Bangladesh, and Cambodia operations rose to RM2.25 billion, RM1.03 billion, and RM455.9 million respectively, though earnings for Sri Lanka and Nepal fell to RM575.4 million and RM343.1 million respectively.

In a different statement, Axiata reported it obtained whole savings of RM1.20 billion as a result of RM755 million in money expenditure and RM490 million in operational expenditure in offering price excellence.

“The group’s balance sheet reflected its growth strategy, with a non permanent uplift in gross debt or Ebitda owing to funding for Backlink Web and Philippine tower acquisitions.

“This will be normalised as proceeds from completed mergers and acquisitions (M&A) are employed to pare down personal debt and complete Ebitda impact of acquisitions is consolidated. Money stability was at RM7.7 billion,” it explained.

On the again of its potent operational general performance, Axiata has declared a solitary-tier tax exempt dividend of five sen for Q3 2022.

Axiata chairman Tan Sri Shahril Ridza Ridzuan reported the group’s sustained momentum in the quarter was inspired by solid operational general performance and group-broad improvements to continue to be resilient in the face of prevailing macroeconomic headwinds.

“Additionally, the amount of completions for M&As including the Celcom-Digi merger and the enlargement of edotco’s tower portfolio all stage to the group’s agility in navigating the current macroeconomic local climate and delivering balanced benefits,” he stated. — Bernama