M1's third quarter earnings drop to $33.1m, down 19.5%
MOBILE operator M1 has reported a 19.5 per cent drop in third quarter net profit to $33.1 million, with earnings eroded by higher handset subsidies.
Revenue for the three months to Sept 30 edged up 4 per cent to $254.7 million, driven by higher service revenue.
Compared with the second quarter, operating revenue was 9.6 per cent up, mainly due to higher handset sales.
Net profit for the nine months shrank by 14.1 per cent to $108.6 million on the back of a 0.2 per cent increase in revenue to $749.4 million.