Axiata's Q2 profit plunges 11% on forex losses at XL

News Wireless Asia 27 AUG 2014
Axiata's Q2 profit plunges 11% on forex losses at XL
Asian mobile operator group Axiata Group saw its second-quarter profit after tax drop 11 percent, mainly due to lower Group EBITDA and forex losses at XL. Revenues went up 1.5 percent year-on-year to MYR 9.2 billion. At constant currency, revenues would have been 5 percent higher. Group EBITDA decreased by 3 percent, due to the impact of the acquisition of Axis. Data continued to be the main revenue growth driver, up 27 percent. Data revenue showed strong growth in all markets driven by increased smartphone penetration. Data now accounts for 20 percent or more of the revenues in Malaysia and Indonesia. Regional mobile subscribers grew 11.7 percent to over 250 million.

Categories:

Mobile

Companies:

XL,  Axiata

Regions:

Asia

Tags:

Sales figures, Financial figures

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