Maxis posts Q3 net profit of RM358m

by BERNAMA/ pic by TMR

Maxis Bhd recorded a net profit of RM358 million for the third quarter ended Sept 30, 2019 (Q319) compared with RM513 million posted in the same period last year.

Revenue rose to RM2.28 billion from RM2.26 billion previously.

In a filing with Bursa Malaysia, it said service revenue for Q319 of RM1.94 billion was 4.3 per cent lower year-on-year compared with RM2.03 billion recorded in Q318.

“This was largely contributed by the termination of a network sharing agreement, decline in Prepaid RGS, an overall reduction in prepaid and postpaid average revenue per user (ARPU), offset by the growth in postpaid and home fibre subscribers,” it said.

The capital expenditure for the Q3 was higher at RM242 million mainly due to incremental investment for Home Fibre and Enterprise growth.

Meanwhile, in a separate statement, during the quarter under review, Maxis saw strong adoption of fibre, increased prepaid revenue and maintained its postpaid leadership with strong uptake for its Hotlink postpaid Flex and MaxisONE Prime converged plan.

“The company continues to provide not only worry-free, end-to-end offerings, but converged solutions with an unmatched personalised experience.

“For the quarter, Maxis registered strong customer satisfaction with a Touchpoint Net promoter score of +58,” it said.

Chief executive officer Gökhan Ogut said the telecommunications group made very good progress in its enterprise growth strategy with solid partnerships, and continuing to build a strong home fibre base in line with the recently launched National Fiberisation and Connectivity Plan.

“We are already forging ahead with our 5G readiness and committed to deploying as soon as the spectrum is made available.

“We will continue to deepen our engagement with our customers and in providing them with the best digital experience and converged solutions,” he said.

Moving forward, Maxis continues to focus on its long-term ambition of being Malaysia’s leading converged communications and digital services company, leveraging on its strong 4G network and expanding its presence in the fixed broadband market in both consumer and enterprise.