True, the second largest mobile operator in Thailand, recovered from a net loss a year ago to move into the black in Q3 as it posted double-digit growth in both mobile and broadband revenue and mobile ARPU remained stable despite intense competition.
The operator, with a 31 per cent market share, recorded a net profit of THB385 million ($11.7 million) in the quarter, reversing a loss of THB691 million in the same period last year, due to higher operating profit and lower net interest expenses.
Consolidated service revenue increased 7.3 per cent year-on-year to THB26.3 billion in Q3, driven mainly by strong growth in its cellular and broadband internet businesses. Mobile service turnover increased 10.1 per cent to THB18.9 billion. The company said it was the 26th quarter in which its wireless revenue grew faster than the overall market.
In a statement True said: “This solid performance was driven by strong revenue and subscriber growth thanks to the group’s successful customer-driven strategy and efforts on enhancing network and service levels, while cost and productivity measures continued to improve.”
Produce sales edged up 1.2 per cent to THB3.8 billion, with True attributing the slow growth to consumers waiting for new models of high-end devices to be launched in the fourth quarter.
The operator added 2.1 million subscribers over the last year, ending September with 28.8 million subs, of which 7.4 million were post paid and 21.4 million were prepaid. Blended ARPU dipped to THB207 from THB208 in Q3 2017, with post paid ARPU down 2.3 per cent to THB468 and prepaid nearly flat at THB118.Subscribe to our daily newsletter Back