KUALA LUMPUR: Axiata Group Bhd’s net profit slumped 69.1 per cent to RM188.93 million in the second quarter ended June 30, 2016 from RM610.76 million recorded a year ago due to a foreign exchange (forex) loss of RM300 million and the additional cost of Ncell Pte Ltd’s acquisition.
Its revenue in the same quarter increased 12.8 per cent to RM5.31 billion from RM4.71 billion due to earlier-than-expected consolidation of Ncell in April 2016.
Its president and group chief executive officer Tan Sri Jamaludin Ibrahim said that in light of Axiata's performance, the board of directors has declared an interim dividend of five sen per share for the financial year ending December 31, 2016.
For the six months, Axiata’s net profit dropped 53.4 per cent to RM557.19 million from RM1.19 billion recorded last year due to operational performance at some of its operating companies, incremental depreciation and amortisation, net finance costs and forex losses.
Its revenue in the same period increased 9.1 per cent to RM10.32 billion from RM9.46 billion recorded last year.