Indian operation boosts Maxis’ 2Q

Malaysia-based telecoms group Maxis Communications has posted a 14% rise in second quarter net profit, due to strong performances at home and abroad. Maxis reported a net profit of MYR450 million (USD122.5 million) for the three months ended 30 June 2006, on the back of a 24.3% rise in revenues to MYR1.89 billion. EBITDA was MYR906 million. The company’s domestic mobile business added 265,000 subscribers in the period, as the market steadily approached saturation levels, taking its total base to 8.47 million. Maxis’ Indian operator, Aircel, which it acquired for USD1.08 billion in January, provided a strong contribution, thanks to a 23% rise in subscribers, though its start-up Indonesian unit reported wider losses of MYR61 million.