Axiata’s net profit jumps 96.9% in 3Q20 to RM352.99 mil

by ASILA JALIL/ FILE PIX 

Axiata Group Bhd’s net profit rebounded in the third quarter on the back of the easing of lockdown measures across the markets. 

In its third quarter ended Sep 30, 2020 (3Q20), Axiata’s net profit jumped 96.9% year-on-year (YoY) to RM352.99 million from RM179.27 million last year attributable to higher earnings before interest, tax, depreciation and amortisation (EBITDA), lower depreciation and amortisation, foreign exchange loss and tax. 

Its revenue however slightly decreased 1.6% YoY to RM6.11 billion from RM6.21 billion in the corresponding period last year.