Kuala Lumpur: Axiata Group Bhd’s net profit surged to RM159.8 million in the first quarter ended March 31, 2025, a significant increase from RM60.03 million in the same period last year. This growth was attributed to foreign exchange gains, reduced depreciation and amortisation, and increased contributions from CelcomDigi.

According to BERNAMA News Agency, Axiata’s revenue for the reviewed quarter dropped to RM5.09 billion from RM5.74 billion. This decline was primarily due to lower contributions from overseas operating companies, affected by foreign exchange translation as the ringgit appreciated against other operating currencies.

In a separate statement, Axiata noted that all its telecommunications companies, except XLSMART, showed growth in underlying profit after tax and minority interest (Patami), alongside CelcomDigi. The group’s chief executive officer and managing director, Vivek Sood, highlighted the challenges faced in the first quarter due to market volatility and macroeconomic headwinds. However, he stated that Axiata has taken decisive actions to realign with its long and medium-term portfolio goals.

Sood expressed confidence in the group’s strategic framework, which focuses on enhancing connectivity and convergence businesses while streamlining its portfolio for value creation and monetisation. He believes this approach will position Axiata to seize significant market opportunities.