Price hikes, job cuts push telco's modest profit lift

Telstra, led by chief executive Vicki Brady, reported a 30 per cent increase in its annual profit. (Bianca De Marchi/AAP PHOTOS)

Telstra's share price has slipped more than two per cent despite a surge in annual profit, as a closer look at the books cuts a less impressive figure.

Telstra reported a bottom-line net profit of $2.3 billion for 2024/25, up 31 per cent from $1.8 billion in the previous financial year, when the telco took a more-than $715 million hit from restructuring costs in its enterprise business.