Maxis records increase in net profits (Malaysia)

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Maxis records increase in net profits (Malaysia)

March 15, 2007

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Malaysia-based Maxis Communications' net profit increased by 51.5 per cent in the October to December 2006 quarter, from RM425 million in the corresponding period of the previous year to RM642 million. The company's revenue also improved by 25.86 per cent, from RM1.68 billion to RM2.12 billion, during the period under review. Maxis attributes this to increasing domestic sales and high subscriber additions in India. However, it foresees slower revenue growth in Malaysia in the future.

Currently, Aircel, in which Maxis has 74 per cent stake, contributes approximately 9.7 per cent and 8 per cent to the group's revenue and EBITDA respectively.