Maxis 3Q Net Profit Rises 10.1% to MYR554 Million

By Yantoultra Ngui Features Dow Jones Newswires

KUALA LUMPUR, Malaysia--Maxis Bhd. (6012.KU), a Malaysian mobile-phone network operator, said Wednesday its net profit for the third quarter ended September rose 10.1% from a year earlier, mainly driven by higher revenue and lower costs.

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Net profit for the three-month period rose to 554 million ringgit ($130.9 million) from MYR503 million a year earlier, it said in a filing to the domestic stock exchange.

Revenue increased 2.8% to MYR2.22 billion during the quarter from MYR2.16 billion a year earlier.

Maxis, which is controlled by Ananda Krishnan, said it expects 2017 service revenue, absolute earnings before interest, tax, depreciation and amortization, as well as base capital expenditure to remain at levels similar to 2016. Mr. Krishnan is Malaysia's third-richest man, according to Forbes.

Maxis said competition is expected to remain intense, with data quality and pricing becoming the focus for customers and competitors.

Shares of Maxis were 0.4% lower at MYR5.74 at the midday break before the company issued its earnings, while the local benchmark stock index was 0.05% lower.

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Write to Yantoultra Ngui at yantoultra.ngui@wsj.com

(END) Dow Jones Newswires

October 25, 2017 02:34 ET (06:34 GMT)