MAXIS Bhd saw a 28% increase in net profit to RM366 million for the three months ending September 30, 2024 (3Q24), driven by subscriber growth and lower staff costs.

It told the bourse in a filing today that its revenue rose 5.5% to RM2.58 billion.

The company declared a third interim dividend of 4 sen per share, totaling 12 sen for the nine-month period, down from 16 sen in FY2023.

For 9MFY2024, net profit grew 14.7% to RM1.08 billion, with revenue rising 4.4% to RM7.77 billion.

Maxis maintained its full-year guidance, projecting low single-digit growth in service revenue and EBITDA, with capital expenditure staying below RM1 billion.

In Q3, service revenue increased by 3.2%, with the consumer segment growing 2.1% and the enterprise business rising 4.2%.

Maxis posted an EBITDA of RM1.05 billion, improving its EBITDA margin to 47.4%.

The company allocated RM140 million in capital expenditure.

Maxis CEO Goh Seow Eng noted the company’s commitment to providing top connectivity, noting its focus on customer needs.

In response to the government’s decision to appoint U Mobile for the second 5G network, Maxis confirmed it will continue offering 5G services through its agreement with Digital Nasional Bhd. — TMR