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Maxis’ Q4 net profit down to RM319m

Revenue also declined to RM2.26 billion from RM2.59 billion previously. — Reuters pic

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KUALA LUMPUR, Feb 26 — Maxis Bhd’s net profit for the fourth quarter ended Dec 31, 2020 (Q4 2020) eased to RM319 million from RM353 million in Q4 2019.

Revenue also declined to RM2.26 billion from RM2.59 billion previously, the telco said in its filing with Bursa Malaysia today. 

“The service revenue fell to RM1.94 billion compared to RM1.99 billion in Q4 2019, largely due to the temporary lack of international roaming income due to COVID-19.

“However, this was offset by the growth in enterprise and fibre businesses,” it said.

The telco said its postpaid revenue posted a slight dip of 2.2 per cent to RM967 million due to a decrease in Mobile Termination Rate and the lack of international roaming income.

“Prepaid service revenue for Q4 2020 declined by 11.1 per cent to RM696 million from RM783 million in Q4 2019,” it said.

In a separate statement, Maxis chief executive officer Gokhan Ogut said moving forward, the telco remains cautiously optimistic in the new norm.

Nevertheless, he said the telco will continue to develop more innovative solutions beyond mobile, and create new growth opportunities for businesses across industries. — Bernama

Reference