Axiata 3Q16 revenues up 2.8% following Ncell acquisition

24 Nov 2016

Kuala Lumpur-based Axiata Group has reported operating revenue of MYR5.5 billion (USD1.2 billion) for the three months ended 30 September 2016, up 2.8% from MYR5.1 billion in 3Q15. The Malaysian telecoms group notes that the improvement was chiefly driven by its newest acquisition, Ncell in Nepal. Further, Axiata highlighted that the top-line figure for 3Q16 represents its ‘highest absolute quarterly revenue to date’. EBITDA for the period under review increased 1.3% to MYR2.1 billion, on the back of strong performances from Ncell, Dialog (Sri Lanka), Robi (Bangladesh) and Smart Axiata (Cambodia).

Axiata chairman, Tan Sri Azman Hj. Mokhtar, commented: ‘We are pleased with the improvements in revenue and EBITDA, although the Group performance continues to be affected by the weaker operating environment and increased competitive pressures across our markets. We remain especially focused on management’s plans for recovery and turnaround strategies at XL and Celcom.’

Malaysia, Axiata, Ncell Axiata