Axiata posts weaker earnings, revenue for 2Q

  • 📰 theSundaily
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

KUALA LUMPUR: 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 ...

: 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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 25. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Axiata posts weaker earnings, revenue for Q2 | Malay MailKUALA 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. The weaker net profit was partly mitigated by foreign...
Source: malaymail - 🏆 1. / 86 Read more »

Axiata posts weaker earnings, revenue for Q2 | Malay MailKUALA 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. The weaker net profit was partly mitigated by foreign...
Source: malaymail - 🏆 1. / 86 Read more »

Serba Dinamik’s earnings, revenue rise in 2Q20 | Malay MailKUALA LUMPUR, Aug 25 — Serba Dinamik Holdings Bhd’s net profit rose to RM147.88 million in second quarter ended June 30, 2020 (2Q20), from RM130.44 million in the same period last year. Revenue for the quarter increased to RM1.44 billion from RM1.14 billion a year earlier due to strong...
Source: malaymail - 🏆 1. / 86 Read more »