Maxis Posts Higher 2Q Net Profit Of RM356 Mln, Declares 4 Sen Dividend

KUALA LUMPUR, Aug 21 (Bernama) -- Maxis Bhd's net profit rose 7.9 per cent to RM356.0 million in the second quarter ended June 30, 2024 (2Q FY2024) from RM330.0 million in the same period last year on improved revenue.

The telecommunications company said its revenue jumped to RM2.59 billion in 2Q FY2024 from RM2.47 billion previously, contributed by a 3.7 per cent growth in consumer service revenue and a 10.8 per cent growth in enterprise businesses.

The increased revenue led to a 4.4 per cent rise in earnings before interest, taxes, depreciation, and amortisation (EBITDA) in 2Q FY2024 from the same quarter last year, translating into a higher net profit for the quarter under review, it said in a filing with Bursa Malaysia today.

bootstrap slideshow

However, Maxis said that higher operation, maintenance and marketing expenses had resulted in a slight dilution of EBITDA margin of 0.2 per cent.

“Maxis was prudent with its capital expenditure investments in 2Q FY2024, with investment focused on modernising the network, network capacity, fibre network rollouts and information technology digitisation,” it said.

For the six months ended June 30, 2024 (1H FY2024), Maxis said its net profit advanced to RM709.0 million from RM650.0 million a year earlier, while revenue was higher at RM5.19 billion compared with RM5.0 billion previously.

bootstrap slideshow

Moving forward, Maxis said it remains steadfast with its strategy to grow its mobile, fibre and enterprise businesses, and is fully aligned with the government's decision on the dual 5G network model.

The company also declared a second interim single-tier dividend of four sen per share for the financial year ending Dec 31, 2024, payable on Sept 23, 2024, with the entitlement date of Sept 5, 2024.

--BERNAMA