TM's revenue rose to RM12.12bil in FY22 from RM11.53bil a year earlier. — Bloomberg
KUALA LUMPUR: Telekom Malaysia Bhd
(TM) believes that the country’s telecommunications industry will be driven by rising adoption of smart devices, digital lifestyle as well as improvement in digital connectivity.
The company’s net profit surged to RM1.14bil in the financial year ended Dec 31, 2022 (FY22) from RM895.21mil achieved in FY21, amid higher operating profits and lower financing cost. Revenue rose to RM12.12bil in FY22 from RM11.53bil previously, the telecommunication group said in a filing with Bursa Malaysia yesterday.
“The group’s operating revenue increased 5.1% to RM12.12bil from RM11.53bil recorded during the previous financial year; the increase recorded from Internet and multimedia, data, non-telecommunication services, as well as voice.
“Despite higher depreciation cost in the current financial year from the group’s revision in useful life for certain network and last-mile elements including fibre optic cables, the strong year-on-year (y-o-y) revenue growth resulted in a 22.9% increase to the group’s operating profits before finance cost, reported at RM2.08bil compared with RM1.7bil in 2021,” it said.
In the fourth quarter of FY22, TM’s net profit increased to RM160.18mil against RM79.94mil recorded in the same quarter of FY21, while revenue fell 5.5% to RM2.98bil from RM3.15bil previously, on the back of the decline from other telecommunication-related services, voice and data.
On outlook, TM said it would continue to invest and strengthen the momentum in its core business and new growth areas beyond connectivity.
In improving its competitive edge, the group has embarked on an internal reorganisation involving the transfer of its telecommunication business in Malaysia to a single operating entity, TM Technology Services Sdn Bhd, formerly known as Webe Digital Sdn Bhd, anticipated to be completed by Dec 31, 2023.
“The internal reorganisation which includes Unifi, TM One and TM Global, will reinforce TM’s fixed-mobile convergence position, further improve operational efficiencies and deliver a more seamless customer experience,” it said. — Bernama
