KUALA LUMPUR (July 28): Maxis Bhd saw its net profit in the second quarter ended June 30 (2QFY22) decline by 8.61% to RM329 million from RM360 million a year earlier, due to higher depreciation and amortisation costs as well as the one-off prosperity tax.

Earnings per share dropped slightly to 4.2 sen from 4.6 sen previously.

In a Bursa Malaysia filing on Thursday (July 28), the telecommunications company (telco), however, noted that its quarterly revenue rose by 6.6% to RM2.42 billion from RM2.27 billion a year prior, largely owed to solid contributions from its consumer and enterprise business.

Meanwhile, the group also declared a second interim dividend of five sen per share payable on Sept 30, 2022.

For the first half of FY22, the group’s net profit fell by 9.65% to RM627 million from RM694 million a year prior.

This was despite revenue increasing by 7% to RM4.83 billion from RM4.51 billion on the back of higher contribution from its service revenue.

On a quarterly basis, the group’s net profit surged by 10.4% from RM298 million in the immediate preceding quarter (1QFY22) while revenue inched up marginally by 0.75% from RM2.41 billion in 1QFY22.

Commenting on the group’s financial performance, Maxis group chief executive officer Gokhan Ogut said its solid performance across all segments underlines its sharp focus on the group’s strategy and agility.

He added that the telco is well positioned for continued growth in a rapidly changing and competitive landscape.

“We are focused on continuously improving our converged network performance and leveraging our strong talent pool in striving to deliver the best innovation and services to our customers,” he said.

Separately, Maxis also welcomed the decision for mobile network operators to take up equity stakes in Digital Nasional Bhd, a special-purpose vehicle set up to roll out the 5G network nationwide.

Maxis has expressed its commitment to realising the country’s digital aspirations and believes in the benefit of 5G implementation in the country.

At noon break, shares in Maxis closed five sen or 1.44% higher to RM3.52, giving it a market capitalisation of RM27.56 billion.