Malaysia's Axiata Group posts Q4 net at $6 mn on cost-cuts, data earnings

Malaysia's biggest telecoms firm Axiata Group Bhd reported a fourth-quarter net profit of 24.7 million ringgit ($6.31 million) after a net loss of 309.5 million ringgit a year earlier, helped by cost-cutting and rising data earnings.

Revenue climbed 8.2 percent to 6.3 billion ringgit, powered by a strong performance from the group's main mobile units in Indonesia, Malaysia and Bangladesh.

Axiata, Malaysia's biggest telecoms firm by market value, said the revenue rise was fuelled by the data business that contributed 49.2 percent to service revenue compared to 37.9 percent a year earlier.

"Earnings before interest, tax, depreciation and amortization (EBITDA) increased by 17.5 percent quarter-on-quarter driven by strong increase in revenue growth and cost optimisation drive across the group," it said.