Indian acquisition boosts Maxis’ 1Q

Malaysia-based telecoms group Maxis Communications has posted a 17% rise in first quarter net profit, due to a strong performance at home and abroad. Maxis reported a net profit of MYR510 million (USD140 million) for the three months ended 31 March 2006, up from MYR436 million in the same period last year; revenues rose 9% to MYR1.7 billion. The company’s domestic mobile business added 350,000 subscribers in the period, as the market steadily approached saturation levels, taking its total base to 8.21 million. Maxis’ Indian operator, Aircel, which it acquired for USD1.08 billion in January, provided a MYR16 million pre-tax profit contribution, whilst its Indonesian unit reported lower losses.