SBS Transit’s profit jumped 46.5% to $7.8m in Q3 on back of higher fares

Average daily ridership also increased.

Mainboard-listed rail and bus operator SBS Transit reported a 46.5% jump in its operating profit for the third quarter, on back of higher revenues from both its rail and bus segments.

SBS Transit’s profit grew to $7.8m from $5.3m in the same period last year, while its revenue climbed 13.6% to $248.5m from $218.5m.

Revenue from its bus segment grew 11.8% year-on-year to $197.6m, due mainly to the increases in average daily ridership and average fare, higher advertising sales, higher rental from renewals and higher other operating income. Its average daily bus ridership increased by 3.1% to 2.8m passenger trips for the quarter.

Meanwhile, revenue from its rail business grew 21.3% to $51m ue to the commencement of Downtown Line (DTL) 1 operations, increases in average daily ridership and average fare, higher advertising sales and higher rental from new shops.

For the third quarter, average daily ridership for the North-East Line grew by 7.1% to 527k passenger trips and that for the Light Rail Transit went up by 9.5% to 89k passenger trips. Average daily ridership for DTL1 was 68k passenger trips.