Axiata Takes $362M Charge For Idea, Reports Q4 Loss

23 February, 2011

Malaysia’s second-largest mobile phone operator Axiata Group Bhd reported a quarterly loss after it took a 1.1 billion ringgit ($362 million) charge for its investment in India’s Idea Cellular Ltd.

Axiata reported a net loss of 367 million ringgit against a profit of 558.3 million ringgit a year earlier.

Full year net profit was at 1.8 billion ringgit, nearly a third lower than the 2.6 billion ringgit profit forecast of 21 analysts tracked by Thomson Reuters I/B/E/S.

Axiata, the only listed telecom stock in Malaysia that provides exposure to the region, was the best performing telecom stock in 2010.

Nineteen out of 27 analysts tracked by Thomson Reuters I/B/E/S have either a “Buy” or “Strong Buy” call on the stock.


Leave Your Comment
Reliance, Wipro beat quarterly earnings estimates; HDFC Bank, ITC meets street forecast

Reliance, Wipro beat quarterly earnings estimates; HDFC Bank, ITC meets street forecast

Reuters 4 years ago
Energy conglomerate Reliance Industries reported a nearly flat profit of 55.11 billion rupees for the December quarter but beat analyst estimates, helped by stable margins...
TCS, HCL beat earnings estimates

TCS, HCL beat earnings estimates

Reuters 4 years ago
Tata Consultancy Services Ltd said quarterly consolidated net profit surged 49.6 per cent, its fastest pace of increase in at least two-and-half years, helped by...
Blackstone Records $278 Million In Net Profit; Says Worst Is Over

Blackstone Records $278 Million In Net Profit; Says Worst Is Over

Reuters 8 years ago
Private equity firm Blackstone Group LP posted a forecast-beating quarterly profit and said it is gearing up for more deals and IPOs as the lending and...
No Comments

Axiata Takes $362M Charge For Idea, Reports Q4 Loss

Powered by WordPress.com VIP