KUALA LUMPUR, Aug 27 — Axiata Group Bhd’s net profit reduced to RM80.02 million in the second quarter ended June 30, 2020 from RM220.56 million, mainly due to lower top lines, higher depreciation and amortisation, and lower one-off gains.
Revenue for the quarter fell to RM5.79 billion from RM6.15 billion a year before due to adverse impacts from the recent Covid-19 pandemic and lockdown measures across the operating companies’ markets. For a six-month period, Axiata’s net profit shrank to RM268.12 million from RM945.72 million year-on-year while revenue eased to RM11.83 billion from RM12.10 billion.
In prioritising emergency needs as Malaysia and the region faced an unprecedented healthcare crisis, sharp economic contractions and rising unemployment in the second quarter, Axiata and its operating companies extended assistance in cash and in kind of approximately RM80 million.