KUALA LUMPUR, Malaysia--Telekom Malaysia Bhd. (4863.KU), a Malaysian fixed-line operator, said Wednesday that its net profit for the third quarter climbed 32.5% on-year, beating estimates, mainly due to foreign exchange gain on its borrowings.
Net profit for the July-September period rose to 211.82 million ringgit (US$51.26 million) from MYR159.84 million a year earlier, according to a local stock exchange filing. This beat the mean estimate of MYR189.03 million net profit polled by Eikon.
Revenue increased slightly to MYR2.94 billion during the quarter from MYR2.92 billion from a year ago, mainly due to higher revenue from internet and multimedia services.
"We foresee sustainable performance for the group in the remaining quarter of the financial year despite competition and challenges in the telecommunication industry," Telekom said in notes accompanying its financial statement.
Shares of Telekom Malaysia were 1.3% lower at MYR6.07 before the earnings release.
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(END) Dow Jones Newswires
November 22, 2017 01:01 ET (06:01 GMT)