Axiata Group’s profit more than doubled in Q1 2025, but a stronger Malaysian ringgit resulted in lower revenue from most of its operating units across the region.
Net profit soared to MYR159.8 million ($37.8 million) from MYR60 million a year earlier, boosted by lower depreciation and amortisation and finance costs as well as forex gains.
CEO and MD Vivek Sood noted despite a challenging quarter marked by volatility and macroeconomic headwinds, “we took decisive steps to reposition Axiata toward its long- and medium-term portfolio objectives”.
CelcomDigi contributed MYR119.3 million to its profit. The operator noted it also had positive profit contributions from its tower unit edotco, Dialog in Sri Lanka, Robi in Bangladesh and Smart in Cambodia.
Total revenue dropped 11.3 per cent year-on-year to MYR5.1 billion, impacted by the lower value of the Indonesian rupiah and Bangladeshi taka. In constant currency terms, sales were down 2.3 per cent.
Recently merged XLSmart in Indonesia saw revenue decrease 8.2 per cent to MYR2.3 billion, with net profit down 35.7 per cent to MYR107.4 million.
Revenue at Robi fell 21 per cent MYR856.8 million, while net provide rose 17.6 per cent to MYR45.9 million. Sales at Dialog were flat at MYR650.4 million and net profit jumped 48.3 per cent to MYR62 million.