Asian Pay TV Trust's Q3 net profit declines to $6.5m

Total revenue decreased by 3% to $63.6m.

Asian Pay Television Trust (APTT) has reported a 36.4% decline in its net profit for the third quarter, dropping to $6.5m from $10.2m in the same period last year.

Total revenue decreased by 3% to $63.6m due to a 5.2% drop in basic cable TV revenue, which fell to $43.5m. This was attributed to a reduction in subscriber numbers and lower average revenue per user (ARPU), although the impact was partially offset by a one-time channel leasing revenue boost during the quarter.

Broadband revenue stood at $17.6m, whilst premium digital TV revenue reached $2.6m.

Basic earnings per unit fell to $0.36, down from $0.56 in the previous year.

APTT anticipates an increase in premium digital TV subscribers and broadband revenue-generating units in 2024. However, the group cautioned that overall revenue growth may be challenged by pressures on maintaining ARPU levels due to market conditions. 

It also noted that reduced demand for home shopping and heightened competition from online retailing are likely to continue impacting channel leasing revenue.