True Corp’s Q3 numbers were hit by merger integration expenses, with the company warning the majority of the tie-up costs are expected to be recorded in the current quarter.
In its earnings release, True noted the local economy improved as inflation declined, while competition stabilised as operators trimmed discounts on data offerings.
It booked a net loss of THB1.6 billion ($44.7 million), up for a restated loss of THB40 million in Q3 2022. Consolidated revenue fell 4.1 per cent to THB50.1 billion and mobile 2.3 per cent to THB31.3 billion.
The operator claimed 90 per cent 5G population coverage, with subscribers more than doubling to 9.4 million.
Prepaid and post-paid subscribers at end-September were steady at 35.7 million and 15.7 million, respectively.
Post-paid ARPU was flat at THB416 and prepaid fell 4.6 per cent to THB103.
True highlighted THB4.4 billion in net cost savings, mostly related to capex, for the two quarters since a merger with dtac, with integrating costs of THB2.2 billion.
On the network side, it aims to decommission 1,800 sites this year, reducing rental costs.