TM posts lower net profit of RM271.21m in Q3

The Telekom Malaysia logo is seen on the TM Tower in Bangsar November 22, 2018. — Picture by Mukhriz Hazim
The Telekom Malaysia logo is seen on the TM Tower in Bangsar November 22, 2018. — Picture by Mukhriz Hazim

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KUALA LUMPUR, Nov 25 — Telekom Malaysia Bhd (TM) has posted an 18 per cent drop in net profit to RM271.21 million in the third quarter ended Sept 30, 2021 (Q3) from RM329.40 million in the same period last year.

Revenue, however, was higher at RM2.8 billion against RM2.7 billion previously amid an increase in revenue from all services except non-telecommunication-related services.

In a filing to Bursa Malaysia today, the company said revenue from Unifi segment rose from RM1.15 billion to RM1.27 billion in Q3 driven by increase from fixed broadband, voice, mobile services, and sales of devices.

Fixed broadband subscriber base saw three consecutive quarters of record-breaking growth at 18.8 per cent from 2.2 million at the end of Q3 2020 to 2.6 million at end-Q3 2021.

TM Wholesale revenue went up to RM627.5 million against RM599.2 million contributed by higher revenue from data and other telecommunication services, while TM ONE recorded a decrease in revenue from RM962.1 million to RM903.3 million in Q3 due to the decline in voice usage minutes as well as business from data and customer projects.

“Whilst our unifi suite of offerings support consumers, households, small and medium sized businesses, TM ONE continues as a trusted business partner to various industry verticals and government agencies in automating their businesses and operations through their own digital transformations,” it said.

TM said it will continue to assess and review the impact of 5G on its future business operations and financial performance.

The 5G rollout that has commenced under a Single Wholesale Network (SWN) model is expected to change Malaysia’s telecommunications industry. — Bernama

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