StarHub's Q1 profit falls 21.3% despite higher revenue

Singapore

DESPITE revenue inching up in the first quarter, StarHub's net profit fell more than a fifth for the three months ended March 31, 2017.

The mainboard-listed info-communications provider posted a net profit of S$73.1 million, down 21.3 per cent from S$92.8 million a year ago. Earnings per share stood at 4.2 Singapore cents, against the year-ago quarter's 5.4 Singapore cents the previous year.

This came as profit from operations dropped 20.2 per cent to S$93.9 million due to two factors: a 2.6 per cent rise in operating expenses to S$498.7 million and a S$12.3 million fall in "other income" to S$0.3 million, the latter due mainly to lower Next-Generation Nationwide Broadband Network grants. "All rollout grants have been fully am…