Maxis reports slight drop in net profit in 9M10

1 Dec 2010

Maxis Communications, parent company of Malaysia’s largest mobile network operator by subscribers, Maxis Mobile, has announced its financial results for the nine months ended 30 September 2010, posting a 2.6% year-on-year decline in net profit for the period. The company however claimed that its comparative results for the period did not represent a true comparison with the corresponding quarter a year earlier following the adoption of a revised presentation of its operational performances, which was implemented after 1 October 2009. Turnover in 9M stood at MYR6.56 billion (USD1.33 billion), up from MYR6.4 billion a year earlier, while ‘comparable’ revenues, which Maxis said excluded mobile internet and roaming revenue adjustments, were MYR6.57 billion. Maxis CEO Sandip Das noted that turnover from voice services had been sluggish during the period, in part a result of increased competition in the wireless sector, and in the three months to end-September 2010 mobile revenues were up just 1% quarter-on-quarter at MYR2.063 billion. Non-voice revenues though have continued to climb, rising 8.2% between end-June 2010 and end-September 2010, to MYR809 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the nine-month period meanwhile were MYR3.25 billion, and profit after tax totalled MYR1.69 billion.

In operational terms, at end-September 2010 Maxis reported a total mobile subscriber base of 13.525 million, of which 76% had signed up for pre-paid tariffs.

Malaysia, Maxis, Maxis Mobile