Flash: Axiata 4Q net loss at RM309m vs RM467m net profit a year earlier
KUALA LUMPUR (Feb 23): Axiata Group Bhd reported a fourth quarter net loss of RM309.5 million versus a net profit of RM467.24 million a year earlier, due mainly to a signficant increase in foreign exchange (forex) loss and net financing cost.
Axiata told Bursa Malaysia today its revenue grew to RM5.79 billion, from RM5.36 billion on higher income from Nepal, Sri Lanka, Bangladesh and Cambodia operations.
Axiata's income statement showed net finance cost rose to RM900.11 million, from RM175.13 million. Included in the net finance cost was a net forex loss on financing at RM556.69 million, versus a gain of RM90.83 million.
For the full year, Axiata said net profit shrank to RM504.25 million, from RM2.55 billion a year earlier, while revenue grew to RM21.57 billion, from RM19.88 billion.
The group proposed a final dividend of three sen per share, which brings full-year dividends to eight sen.
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