M1 rings in 19.4% higher net profit in Q3 to $39.6 million

Singapore's smallest telco M1 has posted a 19.4 per cent jump in third quarter net profit to $39.6 million. -- FILE PHOTO: M1 LIMITED
Singapore's smallest telco M1 has posted a 19.4 per cent jump in third quarter net profit to $39.6 million. -- FILE PHOTO: M1 LIMITED

SINGAPORE'S smallest telco M1 has posted a 19.4 per cent jump in third quarter net profit to $39.6 million.

The healthy jump in the bottom line was largely thanks to more customers and higher revenue from mobile data.

However, revenue for the period ended Sept 30 fell 5.1 per cent to $247 million.

M1 has added 73,000 mobile and 33,000 fibre customers in the financial year to date, bringing its mobile customer base to 2.13 million and fibre customer base to 77,000 as at end September.

Quarterly earnings per share rose to 4.3 cents from 3.6 cents in the same period last year.

Net asset value per share inched up to 38.3 cents as at Sept 30 from 38.1 cents as at Dec 31, last year.