KUALA LUMPUR: Telekom Malaysia Bhd (TM) posted a net profit of RM396.41 million for the second quarter ended June 30, 2024 (Q2’24), a 30.3% or RM172.3 million decrease from the RM568.73 million recorded in Q2’23, primarily due to the one-time recognition of tax losses in the previous year.
The group’s operating revenue decreased by 1.7% or RM50.7 million to RM2.90 billion, compared to RM2.95 billion in the same quarter last year. The decline was mainly from voice services, while internet and data services revenue remained steady.
For the first half of 2024 (H1’24), the group recorded flat operating revenue of RM5.744 billion, compared to H1’23,
with a slight increase in internet and data services, except for voice.
The group’s net profit for H1’24 stood at RM821.2 million, an 8.6% or RM77.6 million decrease from RM898.8 million recorded in H1’23, which included utilisation of tax losses.
TM group CEO Amar Huzaimi Md Deris said the telecommunication company is focused on strengthening its core fundamentals, managing costs effectively, and seizing growth opportunities to ensure to stay well-positioned for the future. “We remain steadfast in driving our aspiration to become a Digital Powerhouse by 2030 while positioning Malaysia as the digital hub for the region.”
TM’s Unifi maintained a steady growth of broadband subscribers in the current quarter compared to the same quarter last year.
However, a drop in voice and mobile device revenue resulted in lower operating revenue, which was down by 1.6% or RM22.7 million to RM1.386 billion, from RM1.4 billion in the same quarter of FY23.
Unifi recorded a 1.2% increase in fixed broadband subscribers, reaching 3.143 million in the first half (1H) of 2024, supported by customer acquisition and retention strategies. It also gained positive traction with its latest mobile proposition and will continue improving and adapting its mobile offerings to meet better customer needs.
TM One recorded operating revenue of RM740.6 million for Q2, improved by 4.9% or RM34.4 million, from RM706.2 million in Q2’23. The increase was due to the one-off revenue recognition related to a recent arbitration settlement.
TM One sustained positive momentum in the first half 2024, achieving a 2.1% increase in revenue compared to last year, reaching RM1.41 billion amid a challenging business environment.
Meanwhile, TM Global’s revenue declined by 8.6% or RM71 million to RM751.5 million for Q2’24 from RM822.5 million in Q2’23 due to lower international voice service revenue. The decline was cushioned by stronger performance in data services and other product lines, which continued to show improvement.
Capital expenditure in H1’ 2024 amounted to RM460 million, representing 8% of total revenue.
TM plans to ramp up this investment towards the end of the year, focusing on enhancing its nationwide and regional network infrastructure. This includes the development of new submarine cable systems and the expansion of data centres.
