Netlink NBN Trust's profit rises 11.3% YoY to $27.6m in Q123

The stronger profit was on the back of its higher revenue.

Netlink NBN Trust's profit after tax rose 11.3% YoY to $27.6m in Q1 FY23 on the back of its higher revenue.

Based on its lattes financial statement, Netlink posted revenue of $97.9m in Q123 which translates to a 4.8% increase from the same period last year (Q122).

The trust said its increased revenue was mainly due to higher ancillary project revenue, connections revenue (residential, non-residential, NBAP & segment connections), and co-location revenue.

In Q123, residential connection was the largest contributor to the group's revenue at 62%. As of 30 June, Netlink has 1,468,815 residential connections.

The group's overall revenue, however, was partially offset by lower Central Office revenue.