SBS Transit Q3 profit-after-tax down 28%
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SBS Transit's third quarter profit-after-tax (PAT) shrank around 28 per cent year-on-year to S$13.86 million, it said in a filing to the Singapore Exchange on Thursday (Nov 11).
Revenue was 10.9 per cent higher at S$334.85 million on the back of higher revenues from public transport services and other commercial services.
Meanwhile, operating profit fell nearly 28 per cent to S$14.1 million as operating costs rose.
For the quarter under review, government relief arising from the pandemic fell nearly 41 per cent to S$13.93 million.
SBST warned that the current restrictions, which have been extended to Nov 21, will result in a slow recovery for rail ridership.
"We will focus on our digitalisation transformation journey and drive our sustainability efforts to improve customer experience and cost competitiveness," SBST added.
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