Telekom Malaysia 4Q net profit jumps 79.5%

KUALA LUMPUR, Malaysia–Telekom Malaysia Bhd. (4863.KU), a Malaysian fixed-line operator, said Tuesday that its net profit for the fourth quarter jumped 79.5% from a year ago, mainly due to foreign exchange gains and net finance income.

Net profit for the October-December period climbed to 277.04 million ringgit ($71 million) from MYR154.31 million a year earlier, according to a filing with the local stock exchange. The result beat the mean estimate of MYR219.12 million net profit from a poll by Eikon.

Revenue, however, declined 1.2% to MYR3.2 billion during the quarter from MYR3.24 billion from a year ago, according to Telekom Malaysia.

Full year 2017 net profit of MYR929.75 million beat the MYR863.39 million mean estimate from the Eikon poll.

“We foresee sustainable performance for the group in 2018, despite competition and challenges,” Telekom said in notes accompanying its financial statement.

Shares of Telekom Malaysia were up 0.5% at MYR6.03 before the earnings release.

— Write to Yantoultra Ngui at yantoultra.ngui@wsj.com


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