Axiata’s record higher profit through improved performances from subsidiaries

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Axiatas record higher profit through improved performances subsidiaries

Axiata, the regional mobile telephone operator has reported a net profit of RM663.05 million for its current financial year’s second quarter (Q2) ending June 30, 2011. This is translated to 14.94% increase as compared to the second quarter of 2010 and is widely contributed by better performance and higher revenue from its key operating companies.

In terms of revenue, the group posted a 5.05% increase and stood at RM4.04 billion. This would have been 7% if not for the fluctuations in the foreign exchange which affected the final profit figure. Axiata, which owns Celcom saw its revenue from the local mobile operator grew by 3.4% which were generating through the 27.3% increase of subscribers from its broadband products. This is against the backdrop of the softening markets, difficult and challenging operating conditions as well as the foreign exchange that has continued throughout Q2 which have been one of the affective factors of their Bangladesh branch.