Telekom Malaysia Berhad announced its financial results for the first nine months of 2024, reporting a 7.9% increase in Earnings Before Interest and Tax (EBIT) year-to-date (3Q YTD 2024), reaching RM1.81 billion on the back of RM8.66 billion in revenue.

The Group recorded a Profit after Tax and Non-Controlling Interests (PATAMI) of RM1.29 billion, which is lower than the previous year due to a one-off tax credit received in 2023. Excluding the one-off tax credit and foreign exchange impact, the Group's PATAMI shows growth year-on-year. Meanwhile, the group saw its Capital expenditure (CAPEX) in 3Q YTD 2024 amounting to RM767 million, representing 8.9% of total revenue.

For the current quarter, the group saw a revenue of RM2.9 billion which was similar to the preceding year's quarter, the group recorded a lower profit of RM465 million compared to RM538 million recorded in the third quarter of 2023.

Amar Huzaimi Md Deris, TM Group Chief Executive Officer said, "The Group continues to demonstrate resilience, with an encouraging YTD increase in EBIT, driven by continuous business improvements, cost optimisation, and operational efficiencies. This is further reinforced by our strong balance sheet and cash reserves, highlighting the Group's healthy financial position.

"Our broadband subscriber base continues to grow steadily, driven by the Unifi UniVerse campaign – our best convergence offerings to date, further solidifying our position as the leading convergence provider with the only quad-play services in Malaysia. We also continue expanding collaborations with enterprises and government agencies to accelerate digital adoption in key verticals such as 5G, Smart Services, Healthcare, and Education. At the same time, we remain steadfast in preparing robust infrastructure to connect the world to Malaysia, including submarine cables and data centres to drive the nation's digital transformation and strengthen its role as the digital hub for ASEAN.

The group said it maintains a positive outlook to close the year and remains on track to achieve its market guidance issued for 2024.

Unifi recorded a 1.6% increase YTD in fixed broadband subscribers, reaching 3.167 million in 3Q YTD 2024. Meanwhile, TM One, the Group's enterprise and Government sector business solutions arm, recorded a 2.0% increase in revenue, reaching RM2.12 billion in 3Q YTD 2024 with improved contributions from digital services and key customer projects.

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