KUALA LUMPUR (Feb 24): TELEKOM MALAYSIA BHD []’s earnings jumped 49% to RM598.30 million in the fourth quarter ended Dec 31, 2011 from RM400.63 million a year ago, largely due to the recognition of deferred tax income on unutilised tax incentives in the current year quarter.
It said on Friday that its revenue rose 5.4% to RM2.447 billion from RM2.32 billion. Its earnings per share were 16.70 sen compared with 11.20 sen.
TM proposed a capital repayment to its shareholders of about RM1.073 billion or 30 sen per share. It also proposed a final single tier dividend of 9.8 sen per share.
Commenting on the revenue, TM said it was driven mainly by the Internet and multimedia and other telecommunications related services, which mitigated the impact of lower revenue from voice and non-telecommunications related services.
It said revenue from the Internet and multimedia services rose 24.0% to RM541.3 million due to increased broadband and UniFi customers to 1.69 million and 236,501 respectively in the current quarter from 1.68 million and 32,896 respectively in the corresponding quarter in 2010.
Other telecommunications related services registered 26.2% growth in revenue to RM424.1 million primarily due to higher revenue from customer projects.
TM said despite higher revenue, its operating profit before finance cost of RM265.7 million was 34.9% lower from RM408.3 million a year ago. The reason was due to lower other gains from the disposal of investments of RM5.5 million in the current quarter compared to RM215.4 million a year ago.
The higher gains recorded in fourth quarter last year was due to the disposal of Axiata shares.
As for net profit, it said the increase was largely due to the recognition of deferred tax income on unutilised tax incentives in the current year quarter.
For FY11, TM said its earnings slipped 1.28% to RM1.190 billion from RM1.206 billion though revenue had risen 4.1% to RM9.150 billion from RM8.791 billion.
It said the lower earnings were mainly due to lower other gains and unrealised foreign exchange loss on translation of foreign currency borrowings. This was mitigated by the recognition of deferred tax income on unutilised tax incentives.
“The group recorded an unrealised foreign exchange loss on borrowings of RM58.6 million in the current financial year as compared to a gain of RM303.7 million in the preceding financial year,” it said.
As for the higher revenue in FY11, it said this was mainly due to higher revenue from Internet and multimedia, data and other telecommunications related services, net of lower voice revenue.
It said on Friday that its revenue rose 5.4% to RM2.447 billion from RM2.32 billion. Its earnings per share were 16.70 sen compared with 11.20 sen.
TM proposed a capital repayment to its shareholders of about RM1.073 billion or 30 sen per share. It also proposed a final single tier dividend of 9.8 sen per share.
Commenting on the revenue, TM said it was driven mainly by the Internet and multimedia and other telecommunications related services, which mitigated the impact of lower revenue from voice and non-telecommunications related services.
It said revenue from the Internet and multimedia services rose 24.0% to RM541.3 million due to increased broadband and UniFi customers to 1.69 million and 236,501 respectively in the current quarter from 1.68 million and 32,896 respectively in the corresponding quarter in 2010.
Other telecommunications related services registered 26.2% growth in revenue to RM424.1 million primarily due to higher revenue from customer projects.
TM said despite higher revenue, its operating profit before finance cost of RM265.7 million was 34.9% lower from RM408.3 million a year ago. The reason was due to lower other gains from the disposal of investments of RM5.5 million in the current quarter compared to RM215.4 million a year ago.
The higher gains recorded in fourth quarter last year was due to the disposal of Axiata shares.
As for net profit, it said the increase was largely due to the recognition of deferred tax income on unutilised tax incentives in the current year quarter.
For FY11, TM said its earnings slipped 1.28% to RM1.190 billion from RM1.206 billion though revenue had risen 4.1% to RM9.150 billion from RM8.791 billion.
It said the lower earnings were mainly due to lower other gains and unrealised foreign exchange loss on translation of foreign currency borrowings. This was mitigated by the recognition of deferred tax income on unutilised tax incentives.
“The group recorded an unrealised foreign exchange loss on borrowings of RM58.6 million in the current financial year as compared to a gain of RM303.7 million in the preceding financial year,” it said.
As for the higher revenue in FY11, it said this was mainly due to higher revenue from Internet and multimedia, data and other telecommunications related services, net of lower voice revenue.
