Telekom Malaysia, the country's biggest phone company, posted a 55 percent fall in quarterly net profit on Thursday, but major one-off items masked a much healthier performance at the operating level.
Malaysia's second-biggest listed firm, with a market value of almost 10 billion ringgit, said April-June profit was 426.1 million ringgit ($113 million), against 952 million ringgit a year ago, which included a gain of about 622 million ringgit from the sale of its stake in South Africa's Telekom. Excluding exceptional gains, the result was much better.