Axiata posts revenue of RM22bil for FY23

TheStar Fri, Feb 23, 2024 12:00am - 1 month View Original


The group will continue focusing on its five strategic vectors for 2024.

PETALING JAYA: Telecommunications giant Axiata Group Bhd has announced it will be exiting the Myanmar market after posting a net loss of RM1.99bil for the financial year ended Dec 31, 2023 (FY23) on a turnover of RM22bil, compared to a net profit of RM9.75bil the year before.

This represented a loss per share of 21.7 sen in FY23 against an earnings per share of 106.3 sen in the previous year.

Group chief executive officer and managing director Vivek Sood said its earnings in 2023 were impacted mainly by Nepal’s NCell Axiata Ltd and edotco Myanmar asset impairment, higher net finance cost and lower share of results of CelcomDigi Bhd.

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