TM said its business and financial outlook for 2023 remains positive.
PETALING JAYA: Telekom Malaysia Bhd
(TM) is poised to meet its 2023 market guidance, based on its current performance trajectory.
“Moving into the last quarter of the year, TM’s business and financial outlook for 2023 remains positive.
“The group will continue to pursue industry growth through digitalisation and emerging technologies that empower communities, businesses and the government to maximise shareholders’ value.
“Based on TM’s current performance momentum, the group is on track to achieve its 2023 market guidance,” the telecommunication group said in a filing with Bursa Malaysia.
In the third quarter ended Sept 30, TM‘s profit after tax and non-controlling interest experienced a surge of 102.9% from RM265.2mil to RM538.2mil, against a revenue of RM3.08bil, primarily attributed to a lower tax impact and reduced net finance costs.
TM said the strong performance of two of its businesses, Unifi and TM Global, played a pivotal role in this growth.
Unifi’s fixed-broadband subscription increased 4.6%, reaching 3.12 million, while TM Global’s revenue rose due to heightened demand for both domestic and international data services.
Unifi recorded 0.7% revenue growth, reaching RM1.41bil, propelled by effective convergence campaigns and robust customer retention activities.
TM Global reported a 5% revenue increase to RM808.6mil from RM769.9mil, driven by encouraging demand for both domestic and international data services.
The group’s year-to-date capital expenditure investment stood at RM1.38bil, or 15.1% of the overall revenue.
In the first nine months to Sept 30, TM posted a net profit of RM1.4bil, up 46.2% from RM983.1mil posted last year, while revenue was flat at RM9.13bil compared with RM9.14bil previously.
