Singapore-based StarHub credited a rise in post-paid subscribers and ARPU in Q1 to uptake of 5G plans, but recorded lower profitability due to higher expenses and investments.
StarHub reported mobile service revenue rose 3.8 per cent year-on-year to SGD134.1 million ($96.8 million), as declines of 17,000 in the prepaid segment were offset by post-paid gains of 84,000, closing the period with 517,000 and 1.5 million, respectively.
Customers on 5G packages numbered 400,000.
Post-paid ARPU rose 7.4 per cent to SGD29 and prepaid fell 20 per cent to SGD8.
Net profit fell 2.6 per cent to SGD29.7 million, attributed to a rise in operating expenses stemming from higher staff and rental costs, and increased investments in its IT transformation initiative.
Revenue increased 5.3 per cent to SGD512.7 million.
Its broadband revenue grew 9.6 per cent to SGD51.5 million, entertainment 3.9 per cent to SGD47.2 million and enterprise 18.9 per cent to SGD183.3 million.
The operator forecasts service revenue to grow at least 10 per cent in 2022, driven by growth across all business units.Subscribe to our daily newsletter Back