KUALA LUMPUR: Axiata Group, Malaysia’s biggest telecom company by revenue, said its net profit plunged 71% on-year in the third quarter and warned it may miss its own earnings guidance amid fierce competition and rising cost.
Net profit for the three months ended September 30 totaled 256.6 million ringgit ($58.3 million) compared with 891.4 million ringgit in the same quarter last year, Axiata said in an exchange filing. Quarterly revenue however rose 7.7% to 5.46 billion ringgit from 5.07 billion ringgit a year earlier.
