True Corp 3Q net profit surges on cost savings, but revenues drop slightly

15 Nov 2010

Quadruple-play Thai operator True Corp has posted a more than twelve-fold year-on-year increase in consolidated net income to THB1.24 billion (USD41.6 million) for the third quarter of 2010, which it attributed to significantly lower finance costs (THB39.8 million compared to THB1.43 billion a year earlier) as well as savings in operational and marketing expenses. On the other hand, group revenue fell slightly to THB15.04 billion in the three months to the end of September, down from THB15.43 billion in the same period of 2009. Sales from broadband internet services rose 4.3% y-o-y to THB6.7 billion, whilst pay-TV turnover grew 2.8% to THB2.4 billion, although mobile revenues at cellular unit True Move fell 3.3% to THB5.7 billion (excluding interconnection), due to tough competition in the pre-paid sector, the company said.

Thailand, True Corp, True Move