Thai operator True Group booked stable mobile growth in the first quarter, as strong post-paid subscriber acquisitions fuelled higher ARPU which helped offset a sharp drop in handset sales.
Consolidated revenue rose 1.3 per cent year-on-year to THB30.1 billion ($939.3 million), driven by a 5.2 per cent increase in mobile service revenue to THB20.1 billion.
Mobile unit True Move’s prepaid subscriber base slipped marginally to 21.7 million, while post-paid grew 16.8 per cent to 8.6 million, with 300,000 added in the quarter. Blended ARPU increased 3.9 per cent to THB213.
In a statement, the company said the Covid-19 (coronavirus) pandemic had caused an economic downturn, with the telecoms industry hit by lower tourist-related revenue and shop closures. It noted the crisis, however, comes with growth opportunity with demand for mobile data, broadband and online services surging as people stay home.
Mobile product sales dropped 52.3 per cent to THB5.03 billion. International roaming was flat at THB1.1 billion, with the lockdown measures reducing tourist arrivals late in the quarter.
Broadband revenue increased 3.1 per cent to THB9.1 billion, while IPTV fell 11.3 per cent to THB2.61 billion.
The operator recorded a net loss of THB161 million compared with a profit of THB1.5 billion in Q1 2019 due to adopting a new accounting standard which reduced the figure by about THB200 million.Subscribe to our daily newsletter Back