M1’s net profit up 6.6% to $45.7m in Q1

On back of higher service revenue.

M1 reported that is net profit grew 6.6% on a year-on-year basis to $45.7m in the first quarter, on back of an uptick in service revenue.

M1 Limited (M1) today announced the unaudited group financial results for the three months ended 31 March 2015. Net profit after tax increased 6.6% year-on-year to S$45.7 million. 

Service revenue increased 0.2% year-on-year to $204.4m, with continued growth in mobile and fixed services revenues offsetting a decline in international call services revenue. Meanwhile, non-voice revenue rose 6.9 percentage points year-on-year to 52% of service revenue. 

During the quarter, M1 added 8,000 postpaid customers and 10,000 prepaid customers, bringing the total mobile customer base to 1.87 million as at the end of March. Average postpaid smartphone data usage increased to 3.2GB per month in the latest quarter, from 2.8GB per month a year ago, while average prepaid data usage doubled year-on-year to 0.8GB per month.