The wider net loss was mainly caused by higher depreciation and amortisation, impairment of assets for mobile operations in Nepal, and higher finance costs, among other factors.

The company’s Q2 FY2023 revenue, however, rose 15% year-on-year (y-o-y) to RM5.99 billion from RM5.2 billion previously, the group said in a filing with Bursa Malaysia today.

The increased revenue was primarily a result of contributions from all operational entities, with the exception of the mobile operations in Nepal and the group’s digital business – which include Axiata Digital & Analytics Sdn Bhd and its subsidiaries.

For the first half-year ended June 30, 2023 (H1 FY2023), Axiata incurred a bigger net loss of RM502.36 million, widening 236% compared to RM149.35 million in the same period last year.

Meanwhile, revenue rose 12% y-o-y to RM11.37 billion from RM10.18 billion previously.

In a separate filing, the company declared a tax-exempt dividend of five sen per ordinary share under a single-tier system in respect of FY2023. Details of the dividend entitlement and payment date will be announced in due course.

At market close today, Axiata’s share price was up by three sen or 1.18% at RM2.58, giving it a market capitalisation of RM23.68 billion.