Telekom Malaysia Berhad shared its financial results for the first half ended 30 June 2024 with the group recording a 14.5% growth in Earnings Before Interest and Tax (EBIT), reaching RM1.26 billion compared to RM1.10 billion in the same period last year. Meanwhile, TM's operating revenue for 1H 2024 remained steady at RM5.74 billion, reflecting consistent performance.

Profit after Tax and Non-Controlling Interests (PATAMI) in 1H 2024 decreased by 8.6% to RM821.2 million which the group said was due to a one-off tax credit in 2023. Q2 PAT however slipped to RM403 million from RM571million in the same quarter in the precceding year, however revenue remained solid at RM2.9 billion against RM2.95 billion in Q2FY23.

Nevertheless, TM said its fundamentals remained strong and continued to underpin its growth trajectory.

TM has declared a higher interim dividend of 12.5 sen per share, amounting to RM479.7 million, an increase from 9.5 sen per share interim dividend declared in the previous year.

Amar Huzaimi Md Deris, TM Group Chief Executive Officer, said, "Our latest Unifi UniVerse continues to excite the market. Its comprehensive suite of convergence offerings provides a seamless experience that meets the diverse needs of digital consumers. As a result, we have seen growth in our customer base, strengthening TM's position as Malaysia's true convergence champion.
In terms of Capex, in 1H 2024 amounted to RM460 million, representing 8.0% of total revenue. The Group said it plans to ramp up this investment towards the end of the year, focusing onIn enhancing its network infrastructure both nationwide and regionally. This includes the development of new submarine cable systems and the expansion of data centres.

The Group maintains a positive outlook for the current year, aligning with its 2024 market guidance.