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MARKETS & INVESTING, TELECOM & INTERNET | Staff Reporter, Singapore
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M1's profit down 5.3% to $34.4m in Q3

Revenue from international call services dropped 20.7% to $9.8m.

M1’s profit fell 5.3% YoY to $34.4m in Q2 from $36.3m. Revenue jumped 10.1% YoY to $274.6m from $249.5m.

Revenue from international call services crashed 29.4% to $9.8m from $13.9m whilst mobile telco services dipped 0.1% to $142.6m. Meanwhile, fixed services soared 25.9% to $37.8m.

In Q3, M1’s prepaid customers crashed 20.7% YoY to 584,000 from 736,000. Fibre customers climbed 12.3% to 204,000 users whilst post-paid customers grew 7.1% to 1.36 million from 1.27 million users a year ago.

Also read: M1's profit inched up 1.5% to $36.2m in Q2

The telco firm also received a pre-conditional offer from Keppel’s Konnectivity and the Singapore Press Holdings (SPH) which intends to make a pre-conditional voluntary conditional general offer for all the issued and paid-up ordinary shares in the capital of the company apart from those already owned by Konnectivity.

Also read: Keppel-SPH buyout offer extends lifeline to embattled M1

“M1 continues its transformation to a Smart Communications Provider to compete in the converged digital economy,” the firm said.
 

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