Maxis 1Q Net Profit Down 2.5% On-Year

Maxis Bhd. (6012.KU), a Malaysian mobile-phone network operator, said Thursday its net profit for the first quarter ended March declined 2.5% on-year, dragged down by higher spectrum license fees, network, staff, operating and marketing costs.

Net profit for the January-March period dropped to 505 million ringgit ($116.16 million) from MYR518 million a year ago, it said in a local stock-exchange filing.

Revenue climbed slightly to MYR2.16 billion during the quarter from MYR2.14 billion a year ago.

Maxis, controlled by Malaysian tycoon Ananda Krishnan, said it expects service revenue, absolute earnings before interest, tax, depreciation and amortization, and base capital expenditure to remain at levels similar to 2016.

Shares of the company were unchanged at 6.43 ringgit at midday break, prior to the earnings release. The local benchmark stock index was down 0.07%.

Write to Yantoultra Ngui at

(END) Dow Jones Newswires

April 27, 2017 01:10 ET (05:10 GMT)