M1's Q1 profit falls 14.6% to S$36.3m despite revenue rise

Singapore

HIGHER depreciation and interest expenses pulled down telco M1's first-quarter net profit to S$36.3 million, a drop of 14.6 per cent from S$42.5 million a year ago. This came on the back of a 1.2 per cent rise in revenue to S$260.7 million from S$257.6 million for the period ended March 31, 2017.

In its review of performance, M1 said that depreciation and amortisation expenses at S$31.7 million for Q1 was 4.3 per cent higher due to higher fixed asset base. Against Q4, it was 5.3 per cent lower.