KUALA LUMPUR Aug 20 AirAsia Bhd,
Asia's largest budget airline by passengers, said second-quarter
net profit rose 529 percent due to foreign exchange gains, the
deferment of taxes and higher passenger numbers.
Net profit for the three months through June increased to
367.16 million Malaysian ringgit ($116 million) from 58.35
million a year before. Revenue rose to 1.31 billion ringgit from
The company, run by entrepreneur Tony Fernandes, had seen
net profit slide 54 percent in the last financial year, hit by
volatile currency moves and price competition in its home market
from Malindo, an affiliate of Indonesia's Lion Air and Malaysian
The stock is down almost 25 percent over the past year,
versus a 4.1 percent rise in the broader index.
(1 US dollar = 3.1660 Malaysian ringgit)
(Reporting By Al-Zaquan Amer Hamzah; Writing By Yantoultra
Ngui; Editing by David Holmes)