However, the telecommunications company’s revenue expanded 5.9% to RM2.41 billion from RM2.27 billion in Q3 2021.
Maxis told Bursa Malaysia that it continued to deliver growth across all segments driven by the performance of its consumer and enterprise businesses.
Hence, it declared an interim dividend of five sen net per share for the third quarter.
The company said its service revenue increased by 3.7% to RM2.11 billion as a result of healthy growth in both consumer and enterprise businesses.
Consumer business recorded a revenue of RM1.72 billion, up by 4.1%, owing to steady subscriber growth of 6.4% in the postpaid segment.
This brought the total number of postpaid subscriptions to 3.27 million, contributing to a 6% increase in revenue amounting to RM830 million.
The prepaid segment remained resilient, despite continued pre-to-postpaid migration, recording a slight drop of 1.8% in subscriptions, it said.
Its home connectivity segment saw double-digit revenue growth of 16.2%, with 83,000 additional home connections year-on-year (y-o-y), bringing total home fibre connections to 652,000, the company said.
Maxis said its enterprise business recorded a revenue increase to RM387 million, or up 1.8%, due to a focus on expanding its convergence capabilities.
The increase in business registration numbers by 5% offered the potential for future revenue uplift.
The group’s earnings before interest, taxes, depreciation and amortisation (Ebitda) were solid, increasing by 3% to RM1.01 billion as a result of continued cost management initiatives.
However, the company noted that its net profit was 3.1% lower despite the solid Ebitda and higher y-o-y profit before tax, due to the one-off prosperity tax for the year of 33% on chargeable income exceeding RM100 million.
CEO Gokhan Ogut said Maxis registered another strong performance in the third quarter, underlining its stability in building the foundation for further growth.
“Our focus will always be on our customers and ensuring that we continue to improve and provide the best experience through our network, digital solutions, and services.
“We look forward to bringing the best of 5G services to our customers who can now sign up for exciting 5G device offers which were launched today,” he said in a separate statement.
Maxis said its 5G alliance, formed in June, is on strong momentum, expanding now to 23 members, and is working with global and local partners to create and commercialise 5G use as well as internet of things solutions across industries in Malaysia and the Asia-Pacific.
The company also recently launched its sustainability strategy, MAX+, which amplifies its corporate strategy to build a more sustainable future through environmental, social and governance practices.