KUALA LUMPUR: Telekom Malaysia Bhd (TM) saw its net profit jump 50.4 per cent to RM568.74 million in the second quarter ended June 30, 2023 (2Q23) from RM378.06 million a year ago.
This is underpinned by lower net finance cost and the recognition of tax credits from unutilised tax losses.
Revenue for the quarter rose to RM3.1 billion from RM3.09 billion previously, mainly driven by an increase from non-telecommunication related services and internet and multimedia services.
TM reported higher earnings per share of 14.88 sen compared to 10.02 sen in 2Q22.
For the cumulative period of six months, TM's net profit rose to RM898.83 million from RM717.91 million a year earlier, while revenue increased to RM6.05 billion from RM5.98 billion.
TM's capital expenditure (capex) allocation for the first half of 2023 stood at RM942.8 million, which accounts for 15.6 per cent of the overall revenue for the expansion of network infrastructure to enhance nationwide coverage.
The group declared a higher Interim dividend of 9.5 sen per share.
Meanwhile, Unifi's revenue increased 0.5 per cent to RM1.41 billion, driven by growth in fixed broadband subscribers reaching 3.11 million from consumer and micro, small and medium-scale enterprises segment.
TM One experienced a decline in revenue by 11.4 per cent to RM732.0 million in 2Q 2023 as a result of price reductions in connectivity services and lower one-off revenue from customer projects.
To mitigate this, TM One is driving the rapid development of smart innovative solutions for verticals such as smart cities, healthcare, agriculture and industries.
As a trusted digital partner for large enterprises and government, TM One is also leading private 5G propositions and solutions across diverse industries spanning across oil and gas, transportation hubs and manufacturing to drive the country's advancement.
TM Global recorded a 10 per cent revenue growth from RM739.9 million to RM813.6 million, contributed by higher demand for both domestic and international data services.
Commenting on the results, TM group chief executive officer Amar Huzaimi Md Deris said the performance was marked by overall positive results across its lines of business.
"These achievements further strengthen TM's growth momentum in facing a more competitive market.
"In the coming months, TM expects to face a more challenging marketplace but remains confident in our overall positive financial performance.
"The group remains steadfast to continue strengthening its core business to be commercially sustainable whilst also continuing to contribute to the nation's growth," he said in a separate statement.