November 27, 2013 / 11:54 AM / 4 years ago

Malaysian telecoms firm Axiata posts small rise in profit

KUALA LUMPUR, Nov 27 (Reuters) - Malaysia’s largest mobile phone operator Axiata Group Bhd posted a small rise in third-quarter profit on Wednesday due to solid performance in Sri Lanka, Bangladesh and Cambodia.

Profit in the July to September period rose 0.7 percent to 715.05 million ringgit ($222.03 million) from 709.92 million ringgit in the same period a year ago, the company said.

The result beat one analyst’s estimate of 661.16 million ringgit, according to Thomson Reuters data.

The company, majority owned by state investor Khazanah Nasional Bhd, said a sluggish performance in Indonesia may put pressure on its business.

Axiata set up a separate infrastructure company in October, in a move that is expected to result in the $500 million listing of its 19,000 tower assets.

The company is working with CIMB Group Holdings Bhd and Goldman Sachs Group Inc on the deal, Reuters reported earlier in August.

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