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StarHub's Q1 net profit falls 7.7% on lower revenue

Published on May 7, 2014 8:36 PM

SINGAPORE - StarHub said its net profit fell 7.7 per cent in the first quarter to $84.2 million from a year ago.

This was due to a one-off payment of taxes not provisioned for in 2012 and a lower government grant, which was to encourage take-up of fibre broadband services among consumers.

Revenue for the three months to March 31 slid 1.5 per cent to $571.4 million, largely due to a drop in the telco's broadband revenue and handset sales.

Broadband revenue during the quarter was $53.9 million, down 13.7 per cent. This was due to intense competition in the broadband market from new players, the telco explained.

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