SMRT's Q1 profit slides 10%
Rail segment in the red; group says there is progrees in talks with govt on transition to a new rail financing network
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SMRT Corp's net profit slipped 10 per cent to S$20.13 million for the first quarter ended June 30, dragged down by losses from its rail operations. But Q1 revenue rose 7.8 per cent higher to S$320.3 million compared with the same period a year ago on broad-based revenue growth across most segments.
SMRT is Singapore's main rail operator and it also runs a smaller fleet of buses and taxis.
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