ComfortDelGro's net profit up 8.6% to $73.4m in Q1

Thanks to higher revenue from most business segments.

ComfortDelGro raked in $73.4m in profits for the first quarter, on back of higher bus, taxi, and rail earnings.

The group's overall revenue rose 3.3% to $995.6m. Earnings growth was partially eroded by a forex loss of $10.9 million, mainly on back of the weaker pound, Australian dollar and the Chinese RMB.

Revenue from the bus business increased by 3.0% to $492.3 million, slightly impacted by a forex loss of $9.2 million from the weaker pound and AUD. Meanwhile, taxi revenue by 3.7% to $333.7 million, including a fore loss of $1.5 million.

Revenue for the rail business increased by 27.5% to $65.0 million. Average daily ridership for the North East Line increased by 5.8% to 557,000, the Downtown Line by 205.7% to 206,000 and the Punggol and Sengkang Light Rail Transit systems by 15.5% to 110,000.