M1 net profit inches up by 2.8% to $134.9m

Thanks to higher contributions from its corporate segment.

The member of Singapore’s telco triumvirate has been active in launching new offerings to its customers this quarter, such as M1 Data passport, mySIM mobile plans and nationwide ultra high-speed fibre connectivity.

According to a statement by the telco, mobile data revenue rose 10.2%, accounting for 44.7% of its service revenue.

“Fixed services revenue grew by 18.9% to S$61.1million for the nine months of 2015 and now accounts for 10.0% of service revenue. The growth was mainly driven by higher contribution from the corporate segment,” M1 said.

Meanwhile, M1 has also increased its postpaid consumer base by 12,000 in 3Q, while its total mobile base grew to 1.89m.

“Monthly postpaid churn remained stable quarter on-quarter at 1.0%. M1 also added 6,500 fibre customers during the quarter to bring its base to 120,000,” M1 said.

“We will continue to innovate and invest to further enhance our value propositions and customer experience,” said Karen Kooi Lee Wah, M1’s CEO.

However, M1 says the gloomy economic outlook would bring low single digit growth in net profit for 2015.