Telekom Malaysia Bhd (TM) reported a net profit of RM396.42 million in the second quarter of 2024, down from RM568.74 million in the previous year.
This decrease is due to a loss in tax recognition in the previous year.
Revenue also saw a slight decrease of 1.7% to RM2.91 billion with call services experiencing a significant decline although internet and data services continued to show steady growth.
Despite the challenges of joining Digital Nasional Bhd's (DNB) 5G network, TM remains optimistic to join Malaysia's second 5G network.
The company has submitted an application to the Malaysian Communications and Multimedia Commission (SKMM) and is still awaiting further developments.
TM chief executive officer, Amar Huzaimi Md Deris emphasized the company's commitment to support the 5G ecosystem in Malaysia regardless of the outcome with DNB.
TM is Malaysia's largest fiber operator and positions it as an important player in the country's digital infrastructure.
The digital company has also declared an interim dividend of 12.5 sen per share amounting to RM479.7 million. This reflects an increase from the previous year's interim dividend.
TM plans to improve its network infrastructure and expand its data center capabilities in order to strengthen its position as a digital leader in the ASEAN region.
