Telekom Malaysia reported that it doubled its profits in Q3, due to lower costs and taxes. Despite facing market challenges, the Malaysian operator saw its profit surge by 102.9% from MYR 265.2 million to MYR 538.2 million (USD 114 million). This increase was primarily due to lower taxes and reduced net finance costs.
However, the company's operating revenue declined by 2.6% from MYR 265.2 million to MYR 538.2 million. The operator also spent MYR 1.38 billion on network infrastructure expansion, which accounted for 15.1% of its CapEx. This figure was slightly lower than the 15.9% spent in 2022.
Unifi and TM Global’s Strong Performance
Telekom Malaysia highlighted the strong performance of its broadband and TV brand, Unifi, as well as its wholesale business arm, TM Global: which played pivotal roles in the company's growth during this quarter. Unifi broadband subscriptions increased by 4.6% to 3.12 million, while TM Global's revenue grew by 5% to MYR 769.9 million, driven by a strong demand for data services.
Telekom Malaysia CEO, Amar Huzaimi, expressed the company's commitment to advancing quad-play convergence services and offering attractive and competitive packages to retain and expand its customer base. Huzaimi also emphasized the company's dedication to improving mobile coverage nationwide; bridging the digital divide and fostering widespread digital adoption. By ensuring that its services are accessible to all, Telekom Malaysia aims to contribute to the creation of a more connected and inclusive society.
Furthermore, Telekom Malaysia's aggressive expansion of data and network infrastructure is strategically aimed at meeting the growing demands of the domestic market and attracting more international players. The company sees this as a crucial step towards positioning Malaysia as a digital hub for the region and making a significant contribution to the creation of a globally connected digital economy.
