SMRT's rail revenue up 5.6%; profit after tax almost doubles

SINGAPORE – Rail operator SMRT Trains’ profit after tax nearly doubled to $12.8 million in the financial year that ended on March 31, from $6.9 million a year earlier.

Its net profit margin was 1.3 per cent, an increase from the 2024/2025 financial year, in which the margin was 0.75 per cent.

Its profit margin had taken a hit then after being affected by one-off costs that totalled about $10 million, after a major disruption to the East-West Line in 2024 that affected one in six train trips daily between Sept 25 and 30 that year.

In the 2025/2026 financial year, revenue from the Temasek-owned subsidiary’s rail operations amounted to $969.7 million – a 5.6 per cent increase from the $918.2 million recorded in the previous financial year.

This was largely because of higher ridership and fare revenue, said SMRT on Aug 5.

In its most recent financial year, the operator recorded an annual ridership of 755 million on the four MRT lines and one LRT line it operates – an increase from 744 million a year earlier. SMRT runs the East-West, North-South, Circle and Thomson-East Coast MRT lines, as well as the Bukit Panjang LRT.

Public transport fares also rose 5 per cent from Dec 27, 2025, resulting in journeys costing nine to 10 cents more, depending on distance.

However, the operator noted that the increase was partially offset by higher repair and maintenance expenditure, while the improvement in its profit margin was driven by a confluence of factors, including cost management and energy contracts secured before energy price increases triggered by the conflict in the Middle East.

Since the Iran war began in late February, energy costs for SMRT Trains have increased by more than 10 per cent.

SMRT said its MRT lines registered an average of more than two million train-km between delays lasting more than five minutes between May and July.

This is twice Singapore’s rail reliability target of one million train-km between delays across the entire MRT network, as measured by mean kilometres between failure.

Separately, SMRT in the past financial year also expanded its commercial, non-fare offerings.

Taxi operator Strides Premier, which is owned by SMRT, grew its limousine and specialised vehicle businesses.

Besides introducing a fleet of the luxury Denza D9 electric vehicles for corporate clients, it also became an authorised repairer for the Chinese brand.

Its specialised vehicle business similarly grew, with Strides Premier entering a contract with aviation ground handler SATS to maintain airport ground support equipment, refurbish upper-deck catering trucks, and modify the Land Transport Authority’s new BYD electric public buses.

Meanwhile, SMRT’s advertising arm Stellar Ace also invested about $4.5 million in dual-use digital panels for use at MRT stations.

Besides being able to show advertisements, the screens can be repurposed to display directions and other information in the event of a service disruption.

In May, it was announced that selected charities with Institution of a Public Character (IPC) status would be able to run campaigns free of charge across SMRT’s advertising network.

The $1 million initiative, which will run for three years, saw 179 IPCs submitting proposals. There are about 700 IPCs in all.

Initially, only six such charities were to be selected, but this was doubled to 12.