Axiata 1Q net profit tumbles 60% on higher depreciation and amortisation

Axiata Group Bhd’s net profit tumbled 60% to RM75.56 million for the first quarter ended March 31, 2021 (1QFY21), from RM188.11 million a year earlier, mainly due to higher depreciation and amortisation costs and lower one-off gain.

Earnings per share fell to 0.8 sen from 2.1 sen, the telecommunications group’s stock exchange filing showed.

The sharp decline in earnings was recorded despite a 0.45% rise in revenue to RM6.07 billion from RM6.04 billion, supported by higher revenue in its Malaysia, Sri Lanka and Cambodia operations.

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