StarHub Q2 profit jumps 16%

Telco StarHub Tuesday reported a 16 per cent jump in net profit to $101 million in its second quarter. But its revenue for the three months to June 30 declined 1 per cent to $587 million due to fewer handsets sold.

Revenue for mobile services - the firm's cash cow - grew 3 per cent to S$314.7 million. It added 32,000 mobile subscribers in the quarter, bringing its total customer base to 2.25 million.

Of these, 362,000 customers were on its fourth-generation (4G) mobile data plans, all of which are bundled with tiered mobile data charges. This shift from the previous generous 12GB data bundles to the tiered plans, which start from as low as 2GB, boosted its revenue numbers.

Pay TV revenue declined 8 per cent to $95.6 million year-on-year as one-off gains from screening Euro 2012 that boosted last year's revenue was not repeated in the second quarter this year.

Broadband revenue also slid 1 per cent to $61.7 million in the quarter compared with a year-ago period.