M1's Q1 net up 4.4% at $42.8m

M1 posted a 4.4 per cent increase in net profit at $42.8 million for the first quarter ended March 31, 2014, yesterday.

Operating revenue shrank 1.2 per cent to $240.2 million as handset sales and revenue from international call services declined.

Lower sales volume saw handset sales falling 16.5 per cent to $36.2 million, while revenue from international calls fell 17.2 per cent to $24.1 million because M1 delivered more calls to low-rated destinations during the quarter.