{
  "id": 3916089,
  "title": "Axiata Q2 net profit plunges 84pct to RM42.5mil on forex losses",
  "url": "https://urgent.news/2026/08/28/axiata-q2-net-profit-plunges-84pct-to-rm42-5mil-on-forex-losses",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-28T07:18:51.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/08/1520649/axiata-q2-net-profit-plunges-84pct-rm425mil-forex-losses"
  },
  "original_language": "en",
  "account": "Axiata Group Bhd experienced a significant decline in its net profit, plummeting 84.3% to RM42.5 million in the second quarter of 2026, down from RM270.8 million a year prior. Revenue also decreased by 3.2% year-on-year to RM2.87 billion. The earnings drop was largely attributed to foreign exchange losses of RM31.7 million, primarily due to the revaluation of USD borrowings and working capital. In comparison, the foreign exchange gains in the same quarter the previous year contributed to the earnings.\n\nFor the first half of the year, Axiata's net profit fell 26.6% to RM316.3 million, while revenue remained stable, declining only 3.2% to RM5.67 billion. The company declared a first interim dividend of 5.5 sen per share for the financial year 2026, an increase from the five sen paid the previous year.\n\nCEO and Managing Director Nik Rizal Kamil highlighted the strengths of Axiata's telecommunications and technology portfolios, attributing the improvement to stronger market structures, merger synergies, operational excellence, and disciplined capital allocation. He emphasized the company's role as a Smart Asset Manager, aiming to maximize each business's potential and allocate capital for the greatest value, thereby strengthening shareholder returns and building a more resilient and diversified Axiata.",
  "summary": "KUALA LUMPUR: Axiata Group Bhd's net profit plunged 84.3 per cent to RM42.5 million in the second quarter ended June 30, 2026, from RM270.8 million a year earlier, while revenue fell 3.2 per cent year-on-year to RM2.87 billion.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}