M1 net profit up 6.6% in Q1

Local telco M1 reported a 6.6 per cent rise in net profit to S$45.7 million for the first quarter of 2015 on Monday on a revenue of S$294.8 million, up 22.8 per cent over S$240.2 million one year ago. Earnings per share (EPS) was up 5.6 per cent to 4.9 cents.

The telco's service revenue remained stable year on year at S$204 million. Its EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin was 40.8 per cent of service revenue. M1 added 18,000 mobile customers quarter on quarter to 1.87 million and its customer acquisition cost quarter on quarter went down to S$392 per customer. As on January 2015, the telco had a 22.8 per cent market share in Singapore. Mobile data accounted for 41.3 per cent of service revenue for the quarter. The telco has 68 per cent of postpaid customers on tiered data plans and 20 per cent of them exceeded their data bundle. M1 expects moderate growth in net profit after tax in fiscal 2015.