Logo of Phnom Penh Post newspaper Phnom Penh Post - Competition a drag on Axiata’s quarterly profits

Competition a drag on Axiata’s quarterly profits

Competition a drag on Axiata’s quarterly profits

Malaysia’s Axiata Group, the parent company of Cambodian telecom operator Smart Axiata, posted last week that net profit fell by 7 percent in the third quarter of this year, primarily driven by increased competition in India and Malaysia, despite revenue for the group increasing by 13.6 percent, according to the firm’s financial report.

Net profit for the three-month period amounted to $57.9 million compared to $62.2 million during the same period last year.

Revenue, primarily derived by data consumption among its 320 million subscribers across 10 countries, increased from $1.3 billion to $1.5 billion when compared to the same period last year.

As for Smart Axiata, the parent company said that despite increased pricing competition, revenue and profit after tax grew by 9.3 percent and 8.9 percent respectively, with data revenue increasing by 35.2 percent.


  • Seven positive for Covid-19, Hun Sen confirms local transmission

    Prime Minister Hun Sen announced that there has been local community transmission of Covid-19. However, he urged the people not to panic even though the Ministry of Health announced the discovery of seven new cases on Sunday. Among the victims are Chhem Savuth, the director-general

  • Cambodia at ‘most critical moment’, Hun Sen warns

    Prime Minister Hun Sen said the first community transmission of Covid-19 in Cambodia has led the country to the “most critical moment” that warranted urgent, large-scale operations to contain the pandemic. Hun Sen, who confirmed the first local transmission on November 28, said the source of

  • PM confirms community transmission, calls for unity

    Prime Minister Hun Sen has called on the public to stay calm, unite and follow the Ministry of Health guidelines after the wife of a senior official tested positive for Covid-19 in the Kingdom’s first case of community transmission. The case has drawn criticism

  • Over 110 garment factories close

    A government official said on November 22 that at least 110 garment factories had closed in the first nine months of the year and left more than 55,000 workers without jobs – but union leaders worry those numbers could be much higher. Ministry of Labour and Vocational Training undersecretary

  • Singapore group seeks $14M in damages from PPSP over ‘breach of contract’

    Singapore-based Asiatic Group (Holdings) Ltd is seeking a minimum of $14.4 million relief from Cambodia Securities Exchange (CSX)-listed Phnom Penh Special Economic Zone Plc (PPSP) for allegedly breaching a power plant joint venture (JV) agreement. Asiatic Group’s wholly-owned Colben System Pte Ltd and 95 per

  • PM vows to protect Hun family

    Prime Minister Hun Sen has vowed to continue his fight against opposition politicians who he said intend to smash the Hun family. Without naming the politicians but apparently referring to former leaders of the Supreme Court-dissolved Cambodia National Rescue Party (CNRP), Hun Sen said there