QUARTER RESULT True thrives on fast-growing service revenue
True Corporation Plc’s net profit rose to Bt385 million in the third quarter, bolstered by accelerating service revenues with double-digit year on year growth in both mobile and broadband internet businesses.
True Group's financial performance continued to improve during the quarter with service revenue reaching a record high of Bt26.3 billion, a growth of 7.3 per cent or 10.3 per cent year on year, excluding contribution from the fixed-line phone concession, driven mainly by both cellular and broadband growth, while cost controls remained tight.
Excluding impact from sales of assets to the Digital Telecommunications Infrastructure Fund (DIF), EBITDA grew 13.9 per cent from the previous year to Bt10.2 billion with a margin increase of 38.4 per cent in the third quarter, compared with 36.5 per cent in the third quarter last year.
Consolidated net profit stood at Bt385 million, a significant turnaround from a loss of Bt691 million in the same period last year, the company’s president Vichaow Rakphongphairoj said.
