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SMRT's Q3 profit jumps 63.5% to S$36.86m

SMRT Corp's net profit jumped 63.5 per cent to S$36.86 million in the third quarter ended Dec 31, 2015, driven by its improving non-rail businesses.

Group revenue grew 4.6 per cent to S$327.56 million on broad-based growth across most segments.

SMRT is Singapore's main rail operator. It also runs a smaller fleet of buses and taxis.

Third-quarter earnings per share were 2.42 cents, up from 1.48 cents in the same quarter a year earlier.

No dividend has been declared for Q3.

For the first nine months, net profit rose 17.9 per cent to S$82.74 million on a 5.7 per cent increase in revenue to S$976.62 million.

Year-to-date earnings per share were 5.43 cents, up 17.8 per cent from 4.61 cents in the same period a year ago.

"We continue our steady performance in our non-rail businesses but the rail business remains challenging due to higher operating costs associated with improving rail reliability," said SMRT president and CEO Desmond Kuek.