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M1 reports S$119.7M net profit after tax

Nurdianah Md Nur | Oct. 16, 2013
Growth in service revenue attributed to increased customer base and higher revenue from mobile data.

Singapore telco M1 Limited (M1) recently released its unaudited financial results for the nine months of financial year 2013 (FY2013), ending 30 September 2013.

Its service revenue was reported to be S$612.8 million (US$493 million), an increase of 6.1 percent year-on-year. Its net profit after tax grew 10.2 percent year-on-year to S$119.7 million (US$96.3 million).

According to M1, service revenue was driven by growth in customer base and higher revenue from mobile data. During the nine months FY2013, M1 has added 73,000 mobile and 33,000 fibre customers. With more customers using smartphones, data usage grew. Revenue from non-voice services thus increased 4.3 percentage points year-on-year to 42.3 percent of service revenue.

Based on the current economic outlook and barring unforeseen circumstances, M1 estimates moderate growth in net profit after tax for the year 2013.

 

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