Maxis down 3.08% this morning after posting lower Q3 earnings

PETALING JAYA: Maxis Bhd’s share price fell as much as 3.08% to RM5.38 at early trade, after seeing a decline in its earnings for the third quarter ended September 30 due to higher operation and maintenance costs.

At 11.18am, the stock was trading at RM5.38 with 452,100 shares done.

Its net profit fell 9% to RM513 million in the third quarter ended Sept 30 compared with RM564 million in the same quarter last year, dragged down mainly by higher operation and maintenance costs.

Revenue declined 3% to RM2.26 billion from RM2.33 billion.

Maxis has proposed an interim dividend of 5 sen per share for the quarter under review.

The telco told Bursa Malaysia that its service revenue dipped 3% to RM2.03 billion due to the decline in prepaid, which offset the growth in postpaid and home fibre segments.

Postpaid revenue grew 2.8% to RM1.03 billion, underpinned by continued subscription growth with stable and high average revenue per user (ARPU) of RM93. However, prepaid revenue was 10.1% lower at RM851 million, reflecting intense on-going price competition in the market.

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