StarHub's Q1 profit grows 3% to $91 million

TELCO StarHub has reported a first quarter net profit growth of 3 per cent to $91 million.

However, its revenue for the three months ended March 31 declined 2 per cent to $580 million.

Its cash cow - mobile services - decreased 2 per cent to $302 million, contributed by lower post-paid revenue from inter-connect operators and roaming services despite an increase in subscription revenue from a larger subscriber base.

Post-paid mobile services revenue decreased 2 per cent to $241 million, accounting for 80 per cent of the mobile revenue mix. Its total mobile subscriber base, about half of whom were pre-paid customers, grew 17,000 to 2.2 million.

Pay TV revenue decreased 1 per cent to $95 million. The lower revenue was a result of lower advertising revenue which was partly mitigated by higher subscription revenue from both commercial and residential customers.

StarHub lost 4,200 pay-TV customers during the three months to 532,000 households.

StarHub shares closed one cent lower at $4.72. The results were announced after the market closed.