ComfortDelGro’s profit falls to $32.8m in Q123
In Q122, the company recorded a profit of $76.1m.
ComfortDelGro recorded a lower profit after taxation and minority interests (PATMI) of $32.8m in Q123, its latest financial statement showed.
Apart from its PATMI, the transport company also saw a decline in its operating profit which fell 51.6% year-on-year to $54.3m.
In a bourse filing, ComfortDelGro attributed the decline in its operating profit to inflationary cost pressures on public transport services.
On the flip side, the company saw a 2.1% YoY higher revenue of $906.4m.
By geographical region, Singapore had the largest share in revenue at $536.8m.