AirAsia owner's net profit plunges 57.61 pct on year to 168 mln USD

Kuala Lumpur: Malaysia-based Capital A, the owner of low-cost airline AirAsia, saw its net profit tumble 57.61 percent year-on-year to 695.38 million ringgit (168.41 million U.S. dollars) in the third quarter ended Sept. 30, dragged by foreign exchange losses.

The firm said in a bourse filing on Friday that its revenue for the quarter also fell 8.13 percent year-on-year to 447.41 million ringgit. This was driven by the expansion across its key segments, including travel, logistics, maintenance, repair, and overhaul services, and other travel-related ventures.

As for the first nine-month period, the firm's net profit more than doubled to 2.83 billion ringgit, while its revenue grew 7.84 percent year-on-year to 1.28 billion ringgit. (1 ringgit equals 0.24 U.S. dollars)