Maxis Bhd posted net profit of RM552 million for the first quarter ended March 31, 2010 while revenue rose by RM24 million or 1% to RM2.15 billion on the back of higher mobile subscription base.
The company said on Monday, May 31 that mobile subscriptions grew 1.42 million or 13%, which was mainly due to the growth in prepaid of 1.207 million or 14% while postpaid recorded growth of 56,000 or 2% and wireless broadband expanded by 162,000. This brought the total mobile subscription base to 12.691 million as at March 31, it said.
However, Maxis said monthly average revenue per user (ARPU) for prepaid and wireless broadband dropped by RM5 and RM28 respectively, mainly due to erosion in voice yield as a result of migration to lower priced plans and introduction of lower priced tariff packages and promotional packages offering free two-month subscription.
Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by RM10 million or 1% on the back of higher revenue partly offset by higher direct expenses of RM12 million on account of higher device expenses from sales of Blackberry and iPhones. The resultant EBITDA margin decreased by 0.1 percentage point from 50.4% to 50.3%.
Its pre-tax profit increased by RM20 million or 3% due to higher EBITDA and lower depreciation and amortisation of RM59 million offset by higher net finance costs of RM49 million.
Consequently, profit for the period was higher at RM552 million compared to RM547 million in the preceding period.
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