Maxis Bhd posted a net profit of RM601 million on revenue of RM2.22 billion in the third quarter of its FY10 ending December.
Earnings per share (EPS) came in at eight sen.
On a quarterly basis, the telecommunication company’s net profit was up 13% compared with RM532 million in the preceding quarter ended June 30.
For the cumulative nine months of FY10, Maxis posted a net profit of RM1.68 billion on the back of RM6.56 billion in revenue, in contrast to net profit of RM1.1 billion from RM5.4 billion in revenue registered in the first nine months of FY09.
Maxis CEO Sandip Das said the results reflected its strategies to help Maxis’ transition from being the number one mobile operator to becoming the country’s leading integrated communications player. “Our key goals were to extend our market leadership, continue to innovate for the future, improve operational efficiency and return appreciable value to all our shareholders”, he said.
“We had strong net additions of 554,000 customers this quarter. Our non-voice revenues are nearly 40% of our mobile revenues. We can see the turnaround in our broadband business which we rejigged a year ago, by growing our high-speed networks across the nation, broadening our product portfolio and raising customer experience levels.”
The next area of growth for Maxis is likely to be broadband, considering about half of the population of Malaysia is below 25 years, who are Internet users, he added.
Maxis showed strong quarter-on-quarter growth of broadband revenue of 36%, with subscribers increasing by 76,000 in the third quarter. This increased its wireless broadband base to 524,000 at end-September this year from 264,000 at the end of 2009.
Sandip added that Maxis had invested RM3 billion over the past three years and RM1.4 billion this year in its network.
Maxis declared an interim dividend of eight sen tax exempt dividend per share, working out to a payment of RM600 million in total. So far this year, the company has paid out 39 sen per share in dividends or RM2.92 billion.
Maxis shares eased one sen to RM5.29 on heavy volume of 14.53 million shares yesterday. - by Jose Barrock
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