Malaysian fixed line incumbent Telekom Malaysia has released its financial results for the three months ended 30 September 2011, revealing a 31% year-on-year slump in net profit, with the decline predominantly attributed to unrealised foreign exchange losses on borrowings. In the operator’s third fiscal quarter of 2011 it posted a net profit of MYR302.2 million (USD95 million) on the back of forex losses totalling MYR122.5 million as the US dollar strengthened against the Malaysian ringgit; by comparison in the same period of 2010 TM reported a forex gain of MYR139 million. Third quarter turnover for TM meanwhile stood at MYR2.32 billion, up 5.8% year-on-year, with the operator citing increased revenue from internet and multimedia services as the key driver for this growth
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OVETEL Forex loss in 3Q11 dents TM’s net profit
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