TPG Telecom — the culmination of the TPG Corporation-Vodafone merger — revealed that the financial impact of COVID-19 during the fiscal year 2020 was approximately a AU$90 million hit to its earnings before interest, tax, depreciation, and amortisation (EBITDA), which ended up being AU$1.39 billion.
The results account for 12 months of the former Vodafone Hutchison Australia (VHA) and six months of the now-defunct TPG Corporation (TPG Corp) as the merger was finalised midway through the fiscal year.
Read more: Vodafone Australia and TPG merger: Everything you need to know
Net profit after tax (NPAT) was AU$734 million after the company paid AU$820 million in taxes for the year. The AU$820 million tax bill was the byproduct of an accounting credit to income tax expense that was not previously recognised in the company’s accounts.
For the year to December 31, revenue amounted to AU$4.35 billion, up from AU$3.5 billion from the…
