TM's 1Q profit down by 41.6 per cent amid challenges

KUALA LUMPUR: Telekom Malaysia Bhd’s first-quarter net profit was down 41.6 per cent to RM107.64 million compared with RM184.44 million posted in the same quarter last year amid challenges across all its customer clusters.

For the quarter ended March 31, 2018, revenue decreased by 3.9 per cent to RM2.85 billion from RM2.96 billion a year earlier due to a decline in voice, data and other telecommunications-related services. The fall was partially cushioned by an increase in Internet revenue.

“For the rest of this year, we remain guided by our two key strategic thrusts, namely to accelerate convergence and empower digital via our PERFEXE 10 approach,” Group chief executive officer, Datuk Seri Mohammed Shazalli Ramly, said in a statement yesterday.

He said it would then enable TM to further accelerate broadband connectivity, convergence and digital economy.

“We will continue with our investment for long-term growth in line with our expansion plans but will also ensure that we fully sweat our existing assets. A multitude of exciting initiatives have been planned for this year. So our customers can look forward to more experiences in perfect oneness, only with unifi,” he added.

Shazalli also said TM was prioritising group-wide initiatives for the year to be more focused in delivering results faster in view of the current challenging market landscape.