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Higher depreciation, finance costs weigh on Axiata 1Q net profit

Mimi Sabreena 7:27:00 PM Informasi

KUALA LUMPUR (May 25): Axiata Group Bhd's net profit declined 35% to RM239.02 million for the first quarter ended March 31, 2017 (1QFY17), from RM368.26 million in the previous corresponding quarter (1QFY16), due to higher depreciation and amortisation charges, finance costs and share of losses from associates.

The fall in profit was despite a 17% growth in revenue to RM5.88 billion from RM5.01 billion a year earlier, which was driven by higher contribution from its operations in Nepal and Bangladesh.

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