TNM has registered a K4.76 billion loss after taxation in 2023, an increase from the K1.76 billion loss recorded in 2022.
This is according to a financial statement for the year ended December 31, 2023 from the telecommunication services provider.
The increase in the loss has been attributed to the realignment of the Malawi Kwacha during the year.
Despite the loss made, the company’s revenue grew by 15 percent to K110.48 billion, revenue from mobile money grew by 29 percent to K18.54 billion and revenue from data grew by 19 percent to K40.09 billion among other performances.
TNM has the lowest share price on the Malawi Stock Exchange, trading at K12.10 per share.
