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Asia300

Telekom Malaysia's 4Q net profit jumps nearly 80%

Company guides for 3.5%-4% revenue growth in 2018 powered by broadband offering

Telekom Malaysia aims to migrate more than a million of existing subscribers using older and slower Streamyx to unifi broadband service.   © Reuters

KUALA LUMPUR (Nikkei Markets) -- Telekom Malaysia, which Tuesday reported a near 80% jump in fourth quarter net profit thanks to currency gains that offset a decline in revenue, guided for a 3.5%-to-4.0% annual income expansion in 2018, powered mostly by broadband service offering.

The state-run fixed-line telecom service provider said its net profit for the three months ended Dec. 31 totalled 277.01 million ringgit ($70.80 million), compared with 154.31 million ringgit a year ago. Quarterly revenue fell 1.1% to 3.20 billion ringgit, dragged down by a decline in voice-based revenue, the company said in an exchange filing. The latest quarter recorded a foreign exchange gain of 74.80 million ringgit, compared with a loss of 120.50 million ringgit a year earlier.

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