Maxis books RM391m net profit in Q2

Telco giant Maxis Berhad reported a net profit of RM391 million for the second quarter of the year. — Reuters pic
Telco giant Maxis Berhad reported a net profit of RM391 million for the second quarter of the year. — Reuters pic

KUALA LUMPUR, August 2 — Telco giant Maxis Berhad reported a net profit of RM391 million for the second quarter of the year, allowing it to declare a dividend of 5 sen per share, the company said today.

The result was 3.2 per cent lower than its previous quarter but Maxis chief executive officer Gökhan Ogut said the company remains confident about the outlook full year, especially on the potential that 5G solutions offer.

“This quarter saw us making headway in our converged ambitions with the launch of new fibre speeds, delivering smart solutions for enterprises and championing Industry 4.0 initiatives in line with the government’s digital economy agenda. 

“The potential of 5G in a future of smart solutions is tremendous. To this end, our 5G live trials are progressing well.  We continue to be at the forefront of introducing new technologies to Malaysia,” he said in a statement announcing the results.

In terms of revenue, Maxis reported a dip of RM26 million from RM2.232 billion in the previous quarter.

Overall service revenue also saw a 1.5 per cent quarter-on-quarter decline to RM1.918 billion from RM1.947 billion.

Postpaid service revenue continued to hover at RM972 million but Maxis said its results were weighed down by the termination of a network sharing agreement ending in December with limited roll over in to 2019.

However, service revenue increased marginally from RM1.876 billion to RM1.887 billion in the same period.

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