SMRT Corporation's net profit for the first quarter ended June 30, 2015, slipped 10 per cent to S$20.13 million, hit by losses from its rail operations.
Revenue rose 7.8 per cent to S$320.3 million, from S$297.13 million in the same period last year.
SMRT is Singapore's main train operator and also runs a fleet of buses and taxis.
First-quarter earnings per share fell 10.2 per cent to 1.32 cents.
No dividend has been declared for the quarter under review.