Axiata Group profit increases 40.1% in Q3

Malaysia’s Axiata Group has reported a profit increase of 40.1% in its third quarter results this year, with a record quarterly profit of 5.1 billion ringgit (approximately $1.2 billion).

Wth net profit for the quarter hitting 891.3 million ringgit, the growth can likely be attributed to the sale of its Indonesian unit XL Axiata’s tower assets, as well as opportune foreign exchange rates.

“This has been a steady but encouraging quarter for the group,” Axiata Group CEO Dato' Sri Jamaludin Ibrahim told reporters.

“Dialog and Smart have performed exceptionally well. Celcom is regaining customers steadily while XL has started to reap benefits from the ongoing implementation of its transformation program.”

Axiata Group is one of Asia’s leading telecoms groups and its subsidiaries also include Robi Axiata, AXIS Telekom Indonesia, Idea Cellular and Tune Talk.

Idea Cellular acquired spectrum from rival operator Videocon earlier this month.


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