M1 Q2 net profit, revenue down on lower handset sales

Singapore

M1 - the first of the three telcos to announce second-quarter (Q2 FY2016) earnings - on Friday posted a net profit of S$41 million for the three months ended June 30, a 7.5 per cent fall from S$44.3 million a year ago.

This followed a 13.2 per cent fall in revenue to S$240.4 million, due mainly to lower handset revenue. The latter almost halved year-on-year from S$72.7 million to S$36.4 million, on lower sales volume and selling price.