KUALA LUMPUR, 30 May 2024 – Telekom Malaysia Berhad (“TM” or “the Group”), today announced a positive start to the fiscal year, with a strong financial performance for the first quarter ended 31 March 2024 (1Q 2024).
The Group saw its revenue increase by 1.8% to RM2.84 billion, driven by solid performance from TM Global and growth in Unifi’s subscriber base. Correspondingly, Earnings Before Interest and Tax (EBIT) grew 37.5% to RM650.9 million in the quarter under review on the back of lower total Operational Cost.
TM’s Profit after Tax and Non-Controlling Interests (PATAMI) increased by 28.7% to RM424.8 million, demonstrating its sustained profitability.
Meanwhile, the Group’s Capital Expenditure (CAPEX) stood at RM204.0 million, or 7.2% of its revenue. These investments were aimed at expanding the Group’s network infrastructure nationwide and regional submarine cable systems.
Amar Huzaimi Md Deris, TM’s Group Chief Executive Officer said, “Entering 2024, the operating environment remains challenging due to increased competition and evolving market dynamics. Nevertheless, the Group has shown a positive growth trajectory in the first quarter of 2024. This is evidenced by increased revenue, improved profitability, and steady growth in our fixed broadband subscribers, reaffirming our strong position in the market.
“To sustain our positive momentum, we will continue enhancing our retail convergence offerings and value-added solutions in delivering improved customer experience. At the same time, we maintain a strong focus on modernising our data and network infrastructure, as well as enhancing our business-related offerings to meet current and future digital needs.
“Moving forward, as part of our transformative journey towards becoming a Digital Powerhouse by 2030, our priorities over the next few years include growing our core businesses, enhancing beyond connectivity by embedding Artificial Intelligence (AI) and capturing new business growth to meet future demands. In addition, we will continue to optimise costs and enhance profitability to ensure better returns for our shareholders,” Amar concluded.
The Group maintains a positive outlook for the current year, staying aligned with the previously provided 2024 guidance.
