KUALA LUMPUR, Aug 29 — Axiata Group Bhd’s net loss for the second quarter (2Q) ended June 30, 2023, widened to RM576.21 million from RM106.38 million recorded in the same period last year.

Revenue, however, rose to RM5.99 billion from RM5.20 billion previously, the group said in a filing with Bursa Malaysia today.

It said the higher revenue was mainly contributed by all operating companies except mobile operations in Nepal and the digital business (Axiata Digital & Analytics Sdn Bhd and its subsidiaries).

The lower net profit was mainly impacted by several factors including higher depreciation and amortisation, impairment of assets for mobile operations in Nepal, and higher finance costs, partially cushioned by higher top lines, lower foreign exchange losses, share of profits from associates mainly from CelcomDigi Bhd and lower taxes.

"Following the completion of the merger between Celcom and Digi on November 30, 2022, the group’s share of the financial results of CelcomDigi is recorded under continuing operations from December 1, 2022 onwards, while Celcom’s financial results prior to December 1, 2022 is presented as discontinued operations,” it said.

For the first half year ended June 30, 2023, Axiata incurred a bigger net loss of RM502.36 million as compared to RM149.35 million recorded in the same period last year, while revenue expanded to RM11.37 billion from RM10.18 billion previously.

In a separate filing, the company declared a tax exempt dividend of 5.0 sen per ordinary share under a single tier system in respect of the financial year ending December 31, 2023. Details of the dividend entitlement and payment date will be determined and announced in due course. — Bernama