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Malaysia's Axiata Q1 net profit down 13.3% on higher operating costs

[KUALA LUMPUR] Axiata Group Bhd, Malaysia's largest mobile phone operator by market value, said on Tuesday first-quarter net profit dropped 13.3 per cent from a year ago, dragged by higher operating costs.

Net profit declined to 584.8 million ringgit (S$216.8 million) in the January-March period from 674.8 million ringgit a year earlier, the company said in a statement to the stock exchange.