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Malaysian Reserve

TM's 1Q net profit down 5.5% on 5G costs despite stable revenue

TELEKOM Malaysia Bhd (TM) saw a 5.5% year-on-year drop in net profit to RM401.26 million for the first quarter ended March 31, 2025 (1Q25), down from RM424.81 million a year earlier, mainly due to 5G access costs and higher device expenses. Revenue inched up 0.5% to RM2.85 billion, supported by stronger business-to-business (B2B) digital solutions, carrier-to-carrier (C2C) demand, and the education segment, helping offset weaker business-to-consumer (B2C) performance. '1Q25 revenue grew as expected, within the projected low single-digit range,' the group said. Operating costs rose 7.6% year-on-year to RM1.8 billion, though lower net finance costs helped partially offset the pressure. TM invested RM280 million, or 9.8% of revenue, in capital expenditure focused on digital infrastructure such as data centres, domestic fibre, and submarine cables. Looking ahead, group CEO Amar Huzaimi Md Deris said TM is focusing on core strengths to tap into opportunities like data centres, GPU-as-a-Service, cloud, and smart services, aiming for disciplined execution and long-term value creation. — TMR