TM’s 3Q21 net profit falls to RM271m

The telco’s revenue for the quarter, however, surges to RM2.87b driven by increase in revenue from all services except non telecommunication-related services 

By TMR / pic by TMR FILE

TELEKOM Malaysia Bhd (TM) net profit fell to RM271.21 million in the third quarter ended Sept 30, 2021 (3Q21) compared to RM329.40 million recorded in 3Q20. 

The telecommunication company’s (telco) revenue for the quarter stood at RM2.87 billion against RM2.7 billion in 3Q20, with the rise driven by an increase in revenue from all services except non-telecommunication-related services, the company stated in a filing to Bursa Malaysia yesterday. 

Revenue from the unifi segment rose from RM1.15 billion to RM1.27 billion in the 3Q driven by increase from fixed broadband, voice, mobile services and sales of devices. 

Its fixed broadband subscriber base saw three consecutive quarters of record-breaking growth, from 2.2 million at the end of 3Q, 2020, to 2.6 million at end of 3Q, 2021. 

TM Wholesale revenue rose to RM627.5 million in the period from RM599.2 million in 3Q20 driven by higher revenue from data and other telecommunication services, while TM ONE recorded a decrease in revenue to RM903.3 million in quarter from RM962.1 million in 3Q20 due to the decline in voice usage minutes as well as business from data and customer projects. 

“Throughout 2021, we’ve focused our efforts to deliver digital connectivity and solutions in supporting the sustainability and recovery of our country. 

“As a result, we are able to deliver another solid quarter of revenue and net profit growth. Our next focus will be on delivering enhanced customer experience and strengthening our digital offerings across all customer segments in unifi, TM ONE and TM Wholesale,” group CEO Imri Mokhtar (picture) said in a separate statement yesterday. 

He added that the company will continue to play a leading role in Malaysia’s digitalisation drive outlined by the Jalinan Digital Negara (Jendela) action plan, Budget 2022 and the 12th Malaysian Plan (12MP), including the MyDigital blueprint. 

“As we continue our shift towards becoming a human-centred technology company, we will develop innovative solutions and drive digital adoption across our broad customer base of home, small and medium enterprises, corporate and government customers — anchored on enhanced customer experience. 

“Supporting this evolution, will be our new way of working at TM — focusing on increased productivity through digitalisation and process automation, upskilling of our existing workforce and welcoming new digital talents,” said Imri. 

TM will continue to assess and review the impact of 5G on its future business operations and financial performance. 

The 5G rollout has commenced under a single wholesale network model and is expected to change Malaysia’s telecommunications industry.