Maxis highlights subscriber growth as profit falls

Maxis CEO Gokhan Ogut looked to the positives after the Malaysia-based operator recorded profit and revenue declines in Q1, highlighting subscriber growth across all segments.

Prepaid subscribers grew 3.4 per cent year-on-year to 6.1 million and post-paid 3.5 per cent to 3.5 million.

For businesses, Ogut stated a move into converged services and enterprise offerings in the last two years had given Maxis “a strong first-mover advantage in the industry”.

“We are pleased to have delivered a good set of quarter one results in a continuously challenging environment,” he said, highlighting growth in wireless and fixed broadband revenue on the back of strong adoption of its converged packages.

Net profit was down 6.4 per cent to MYR334 million ($81.5 million), attributed to higher depreciation of IT investments. Total revenue declined 4.8 per cent to MYR1.96 billion, with prepaid sales falling 3.4 per cent to MYR690 million and post-paid down 1.4 per cent to MYR974 million.

Prepaid and post-paid ARPU fell 2.6 per cent and 4.7 per cent to MYR38 and MYR82 respectively, with the latter hit by a collapse in international roaming. Average data usage grew 28.4 per cent to 21.6GB a month.

Capex was 16.6 per cent lower at MYR136 million.

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